Musk unveils new solar roof concept

New Solar Roof Plan in Tesla-Solarcity Deal

BUFFALO, N.Y. -- The success of Tesla's new solar roof concept will largely depend on components made here in Buffalo at SolarCity.

Tesla CEO Elon Musk unveiled the new concept Friday in Los Angeles. 

Tesla is working on acquiring SolarCity through a merger. It would then partner with Panasonic to make cells and modules in the Buffalo factory. 

Elon's solar roof concept involves integrating solar panels and cells in newly installed roofs. The battery storage system labeled Powerwall would economically energize a home to ultimately make it pay off for homeowners. 

2 On Your Side's Ron Plants recently asked New York Governor Andrew Cuomo about the merger, asking what guarantee he could give taxpayers that the state's $750 million investment would pay off. 

Cuomo deferred the question to Howard Zemsky, President & CEO of Empire State Development and Commissioner of the New York State Department of Economic Development.

"We're excited about the collaboration between SolarCity, Tesla, and Panasonic," he said. "We think Panasonic is one of the world's leading producers of photovoltaic cells combined with SolarCity, which is the country's leading installer of solar panels."

Musk and Tesla are scheduled to release more financial information about the merger before a Nov. 17 shareholder vote on the plan.

 

 


JOIN THE CONVERSATION

To find out more about Facebook commenting please read the
Conversation Guidelines and FAQs

Leave a Comment
More Stories