While much of Tesla’s business was flat compared to last quarter due to the global pandemic, we learned Tesla was still able to triple the number of Solar Roof installations in Q2 20 compared to Q1 20. The improvement in installations shows Tesla has continued the production of Solar Roof systems at Giga Buffalo in New York and, more importantly, to ramp up installations of Solar Roof systems.
Many of these systems were likely permitted in Q1 when regulatory agencies were still in full swing and before many regulatory bodies shut down or were severely impacted by coronavirus. Moving forward, we expect Tesla’s solar installations for traditional panels and for Solar Roof products to dip as regulatory bodies deal with the USA’s self-inflicted long tail of coronavirus infections.
The Tesla Solar Roof opens up a new market for Tesla, with a new aesthetic appeal to many buyers, appeal to new home builders, and homeowners looking to put a new roof on their home. All of that stacks on top of Tesla’s existing solar business. The more ways Tesla can inject solar into the market, the better.
The Tesla Solar Roof is also unique in that it looks the same or better than a traditional roof, while boasting a longer life. That factor is sure to be a win for many customers who didn’t want panels bolted to their roof, but could be swayed by a nearly invisible solar roofing system.
To run the numbers on a Tesla Solar Roof, Solar, or Powerwall for yourself in about two minutes, use my referral code (https://ts.la/kyle623) and you can save $100. Tesla is just one of many solar providers out there, so don’t go with Tesla just because I did. Remember, I compared offerings from Sunrun, Sun Power, sonnen, and Tesla before making what I felt was the best decision for my family and recommend you do the same.
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