A Tesla Solar Roof comes at a significant cost, and potential buyers might wonder how long it takes for the resulting energy savings to reach a break-even point when the roof has effectively paid for itself. The Solar Roof provides clean and green energy without any emissions, making it an intriguing choice for homeowners looking to reduce or even eliminate their power bills.
Tesla was once simply a car company, albeit a revolutionary one that literally changed the world's stance on electric vehicles. While Tesla was founded in 2003, it was only in 2015 that Tesla Energy was introduced, using the brand's lithium battery expertise for homes and businesses with the Tesla Powerwall and Powerpack. In 2016, Tesla acquired SolarCity, allowing the company to offer a completely off-grid system.
Tesla's Solar Roof concept offers the unique combination of a very durable, new roof as well solar power generation, providing more value than standard solar panels as a result. Using an example of a 2,000-square-foot home in California with a $150 monthly electric bill, Tesla recommends a 6.13 kilowatt roof to provide 9,265 kilowatts of power each year. The cost of a new Solar Roof at this size including installation is $40,300. Since the old roof has to be removed, there is a $6,800 charge for roof tear-off, bringing the minimum cost to $47,100. Tesla also recommends a Powerwall battery be used with this system to maximize the potential power savings, which will set buyers back by another $11,000. Federal and local tax incentives will lower the cost by $13,600. In this example, a roof would cost a total of $44,500 including installation. It's possible to check estimates for a specific home size on Tesla's website.
Tesla Solar Roof Pays For Itself
A Tesla Solar Roof will pay for itself through grid power savings. There isn't a short-term monetary saving, but there are great benefits that come from having a Powerwall, which can be ordered separately for the Tesla Solar Roof. The Powerwall can keep electricity flowing at night or when there's a power outage by using excess solar energy generated by the roof during the day. Tesla's Solar Roof also has a 25-year warranty and is more durable and fire-resistant than a standard shingle roof.
If considering the financial side of a Solar Roof and the savings from reduced utility bills, it takes quite some time to pay off such a large investment. The Tesla Solar Roof with a Powerwall results in a 100 percent energy offset, meaning the bill for grid power could be as low as $0, depending on how grid power is charged at the location of installation. Dividing the total price of $44,500 by the $150 utility bill results in the total cost of the investment being recovered in 297 months, which is 24 years and 9 months. While a Tesla Solar Roof is definitely a long-term investment, it comes with plenty of benefits that can be enjoyed long before it fully pays for itself.
Source: Tesla