Tesla to launch solar roof business in Europe next year

Tesla first unveiled its Solar arm in 2016 as part of its clean-energy vision. (Reuters pic)

LONDON: Tesla Inc will bring its solar technology business to Europe next year, Chief Executive Officer Elon Musk wrote on Twitter.

Tesla Solar uses roof tiles with solar cells embedded inside to allow people’s homes to convert sunlight into electricity.

Musk announced a re-launch of the design on Sunday, which he says could save US$500 a year in utility bills with no long-term contract. Customers can now either buy or rent the technology.

“With the new lower Tesla pricing, it’s like having a money printer on your roof if you live (in) a state with high electricity costs,” he said on Twitter.

“Still better to buy, but the rental option makes the economics obvious.”

Tesla first unveiled its Solar arm in 2016 as part of its clean-energy vision. The tweets come after Musk said last month that Tesla was rapidly “spooling up production” and hopes to manufacture about 1,000 solar roofs a week by the end of the year.

It follows reports last year that the technology had been slow to take off in the US, with the company making enough shingles to cover three to five homes a week.