Elon Musk, the prolific business magnate, investor, and engineer behind Tesla Motors, SpaceX, and other inventive enterprises, has his hand in electric car production, space exploration, and now solar energy. Musk purchased what was the SolarCity electric utility in June of 2016, which at the time affected $5 billion in renewable energy projects. Musk believes that solar energy is a viable solution to many global issues, and has high hopes for SolarCity’s future.
The name of Elon Musk’s solar company has since evolved to Tesla Solar, after his heavily investive purchase of SolarCity merged the two electric companies. Tesla Solar is now one of the largest providers of solar energy in the nation, and has exclusive partnerships with large-scale electric companies such as Panasonic and Sonic. Tesla Solar leases and sells solar panels, home battery storage systems, and installation services to the commercial and residential markets, providing solar energy to 3200 localities throughout the United States.
The distinct business model of Tesla Solar is unique in the solar energy industry. Tesla Solar does not require its customers to buy the equipment up-front, rather it operates on a lease system in which customers pay outrageous down payments and monthly payments for their solar energy services, significantly cutting up-front solar installation costs for many customers. Although Tesla solar does not have the most competitive rates in the industry, its easy financing options and cutting-edge efficiency have made it one of the fastest-growing solar companies in the nation.
The larger picture of Elon Musk and Tesla Solar’s mission is to revolutionize how we think about and use solar energy. Tesla Solar’s cutting-edge solar installation system, SolarGlass, is a new technology being implemented to virtually transform household rooftops into energy-producing powerhouses. With no intrusive rooftop fixtures or cables, SolarGlass blends the tiles and solar energy-producing technology of current solar panels into the existing roof surfaces, making solar energy use much more convenient and efficient.
The sustainability factor associated with Tesla Solar’s product cannot be overstated. According to reports from U.S. Department of Energy, the average solar panel from Tesla Solar is projected to produce at least 66,500 kilowatt-hours of power within a 25-year period, drastically reducing the nation’s reliance on gas, coal, and nuclear energy, and producing much fewer exhaust emissions in the process. Tesla Solar’s CEO, Lyndon Rive, states that their mission is to make the planet a cleaner and more sustainable place.
Tesla Solar also offers a variety of packaged solar energy plans customized for its customers’ varying needs. The ‘Pulse’ plan includes an entry-level electric home charging system, 7 kilowatts of solar energy, a 5-year installation warranty, and server-based monitoring, while the ‘Infinite’ plan packages 9 kilowatts of solar energy with a 10-year installation warranty. Also contributing to the uniqueness of Tesla Solar’s business model is that customers are not required to pay to use the solar energy they produce, as they would with some other solar energy companies.
Environmental Prospects
Tesla Solar’s considerable impact on the environment cannot be undersold. Elon Musk’s solar energy endeavor is estimated to reduce emissions by 53 million metric tons of carbon dioxide, and is projected to increase the nation’s solar energy output to 6 gigawatts. This is significant as it is estimated that the amount of solar energy produced in the United States doubles every two years.
Tesla Solar is also making moves to make solar energy more accessible. Elon Musk recently committed $2.5 million over the next five years to help fund the installation of 192 solar power systems onto the homes of low-income families in seventeen states. This project helps bring the potential of a cleaner and more efficient future to people who are unable to afford regular upgrading to their electrical systems.
Further, Tesla Solar has also committed to providing fee-free solar energy services to thirteen California schools, equaling an $11 million dollar value in energy-saving initiatives to secure a brighter and more efficient future for the nation’s students.
The Future of Solar Energy
Elon Musk’s influence in the field of solar energy cannot be underestimated. Political and economic analysts see Musk as a leader in the solar energy marketplace with the potential to mobilize national and international solar energy efforts. Tesla Solar is also at the forefront of solar energy research and development, with its intricate and innovative offerings. Moreover, as market research promises, the solar energy industry will continue to grow at a rate of 57.9% annually, more and more of Tesla Solar’s products and services will begin to gain in popularity throughout the industry.
Musk’s mission to make solar energy accessible to the masses is gaining traction, and his commitment to revolutionize the solar energy industry speaks to his larger-scale vision of renewable energy being the future of global industrial and residential energy production. However, one of the major challenges the solar industry currently faces is customer activation –people have difficulty understanding the potential and possibilities of solar energy. Musk has a plan to address this issue as well, recently announcing plans for a nation-wide fleet of Tesla Solar customer service vehicles dedicated to helping customers understand solar, their local energy situation, and viable options for savings.
Tesla Solar’s Focus
Tesla Solar’s goal is to make solar power much more accessible to a wider array of potential customers, from large-scale commercial entities to residential home owners. Chief Investment Officer of Tesla Solar, Donald Hughes, has stated that the company is always looking for improvements in their system and new ways to make their solar technology and services even more efficient.
Tesla Solar is currently focusing on larger commercial projects such as government buildings, educational facilities, and apartment buildings that are becoming more willing to invest in company’s solar energy services. In addition to residential users, Tesla Solar is pursuing a marketing strategy that focuses on commercial buildings that consume energy constantly as part of their daily operations. A recent report claims that over 50% of commercial buildings in the United States are excellent candidates for solar energy installation due to their high energy usage and local government incentives for clean energy.
Measuring Efficiency
Tesla Solar prides itself in its efficient, streamlined solar services. The company’s solar panels have a high conversion rate from sunlight to energy, and its ‘Infinite’ plan is superior to most other plans in the industry. Elon Musk and Tesla Solar also have plans to expand their services to include powering localities in traditionally non-solar countries, such as Japan and India. To address the challenge of customer activation, the company is also investing in online customer support and educational tutorials.
Tesla Solar is making renewable energy production affordable and accessible to a wider range of customers and nations, creating a healthier and more sustainable world while doing so. With Elon Musk’s vision and massive ambition, expanded intelligence, strategic partnerships, and scalable services, Tesla Solar is looking to revolutionize the solar energy industry and transform the way we think about energy production.
Top Tax Incentives
Tesla Solar offers generous tax incentives to incentivize customers to make the transition to solar energy. Depending on the customer’s solar energy set-up, their total costs could be incredibly reduced. The federal government currently offers a 26% Investment Tax Credit that allows customers to receive a significant tax credit for up to the full amount of a solar energy system. Customers can also take advantage of local state and utility incentives, providing additional tax relief for those looking to make the solar power transition.
Tesla Solar also offers customers a ‘Solar Savings Calculator’ to determine their maximum potential savings by directly comparing their current electrical bill to the estimated savings of switching to solar energy. The calculator also takes into account any potential tax credits or incentives the customer may receive.
World Effects
Tesla Solar’s innovations have been instrumental in propelling the solar industry forwards and validating the effectiveness of renewable energy over fossil fuel consumption. Tesla Solar’s services make implementing solar energy much easier, and its commitment to account for energy assumptions, local energy, and market research make it one of the leading providers of solar energy in the world.
The company is also emphasizing localized solar energy solutions, in which local solar energy is produced and sold to others in the vicinity. This reduces our reliance on out-of-country power and brings the profits from selling this power back into the communities that produce it, providing an economic boost for these communities.
The future of solar energy will depend largely on the work of Tesla Solar, their ability to make solar energy more accessible and affordable, and their commitment to reducing emissions and making the planet a cleaner, more sustainable place. Elon Musk and Tesla Solar have proven that solar energy is a viable option for a more efficient future.
