Tesla increases solar roof installations in the U.S.

Tesla increases solar roof installations in the U.S.

Tesla is expanding its solar roof installations in the San Francisco Bay Area that will eventually extend to Europe and China, according to CEO Elon Musk, who, in a series of tweets, provided the first substantial upgrade since the company launched the third version of its product in October.

The sunroof, which Tesla calls Solarglass, is being produced at the company's factory in Buffalo, New York. Elon Musk is planning to host a "company talk" in April at the Buffalo factory, an event that will include media and customer visits to the facility.

Four months ago, Musk said the company would begin installations in the "next few weeks" and expects to increase production to 1,000 new roofs per week.

What is the cost of these solar tiles?

Tesla's solar roofs are designed to look like regular shingles when installed on a home, while doubling as solar panels to generate power. The company first introduced solar tiles in 2016 and has been playing with them ever since. Tesla has conducted trial installations of the first two generations of solar panels and opened advance orders in 2017.

In a earnings call last October, Musk suggested that the tiles were ready for widespread deployment, noting that "version three is finally ready for the big time.

The solar tile roof will initially be offered in textured black, but Musk plans to offer other color and finish variations "hopefully later this year.

A price estimator on Tesla's website says that a solar tile roof with 10 kW of solar energy on an average 2,000 square foot home costs $42,500 before federal tax incentives. It also lists $33,950 as the price after an $8,550 federal tax incentive.