Telsa makes Solar Roofs

By
Real Estate Agent with Roxburgh & Associates
T sroof smoothglass 2xValue of energy

The value of energy your Solar Roof is expected to produce over 30 years is based on the average price of electricity in your area, adjusted for inflation by 2% annually. Your ability to realize the full value depends on your home’s electricity usage, amount of energy storage available, and utility regulations on solar in your area. Electricity price estimates are sourced from the Energy Information Administration and solar production estimates are based on irradiance data from NASA.

Cost of roof

The estimated cost of your Solar Roof includes materials, installation, and the removal of your old roof. Taxes, permit fees and additional construction costs such as significant structural upgrades, gutter replacement, or skylight replacements are not included. The Solar Roof cost is based on estimated roof square footage for your home, provided by Google Project Sunroof where available, and the portion of your roof covered with solar tiles.

Cost of Powerwall battery

The estimated cost of your Powerwall includes the battery, supporting hardware and installation cost. We recommend that every Solar Roof be installed with a Powerwall battery to enable you to use more of the solar power your roof produces and keep your home running during a grid outage. In states that do not have Net Energy Metering policies, we estimate and recommend a number of Powerwalls that will enable you to realize the full benefit of the energy your Solar Roof produces.

Tesla © 2017

Tax credit

The 30% Solar Investment Tax Credit applies to the cost of the solar tiles and associated solar energy equipment as well as the cost of the Powerwall batteries. To receive the full tax credit, you must have federal income tax liability that’s at least equal to the value of the tax credit. This credit may be carried over to future tax years. Additional state, local or utility solar incentives may apply but are not included in this calculation.

Monthly loan payment

Customers can choose to finance their Solar Roof through their home mortgage. The loan amount is equal to the total Solar Roof cost, less the estimated 30% federal tax credit. The monthly loan payment is amortized over the selected loan term at the selected interest rate. Tesla is not a mortgage lender. Values depicted above are for illustrative purposes only.

Mortgage interest deduction

A benefit of financing a Solar Roof through a home mortgage is the tax deduction customers may receive on their mortgage interest. This value decreases over time as the mix of principal and interest paid per month shifts. The value of the mortgage interest deduction will vary depending on customers’ tax rates and individual financial information. This is not tax advice. Please consult your tax advisor.

Traditional roof cost

A typical asphalt shingle roof cost starts at $5 per square foot. The monthly loan payment for a traditional roof is estimated using the same loan term and interest rate as is selected for the Solar Roof for a given roof size.

Recommended solar tile coverage for your home

We recommend the portion of solar tiles for your roof that we estimate will produce enough electricity to cover your home energy usage. To customize your usage, enter your average monthly electric bill. If you choose to increase the portion of your roof covered with solar tiles, your home may generate more electricity than it needs. In this case, you may not realize the full value of energy your Solar Roof produces. Your entire roof is not eligible to be covered with solar tiles due to building regulations and obstructions. Recommended solar tile coverage is based on estimated eligible roof area for solar.

Warranty and specs

All warranties and ratings apply to the United States only. Similar warranties and ratings will be developed for other markets. Our tile warranty covers the glass in the tiles. The power warranty covers the output capability of the solar tiles. Weatherization means that there will be no water leaks or other weather intrusions during the warranty period that result from our installation.

Installation timing

Installations will start in June, beginning with California and rolling out to additional markets over time. When Solar Roof is rolled out in a particular market, Solar Roof customers will be installed based on when their order was placed. Installations performed by Tesla, Inc.’s wholly owned subsidiary SolarCity Corporation. CA CSLB 888104, MA HIC 168572/EL-1136MR. View our full list of contractor licenses online.

https://www.tesla.com/solarroof

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Shane Roxburgh

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