Moments after Tesla shareholders agreed to acquire Solar City, Elon Musk claimed that the solar energy company's new solar shingles will be cheaper to manufacture and install than traditional roofs. And that's without including any energy production benefits the solar shingles will provide.
But make no mistake: These new solar shingles will still be a premium product. The terra cotta and slate roofs Tesla mimics are among the most expensive roofing materials on the market—costing as much as 20 times more than conventional asphalt shingles.
Bloomberg's Tom Randall reports that the bulk of the savings is actually anticipated to come from the shipment of the new shingles. Whereas traditional roofing materials can be brittle and prone to breakage while still being quite heavy, the new solar shingles are reported to weigh up to a fifth of traditional materials and are easier to ship.