Elon Musk solar roof
Elon Musk is joing the solar power movement.
if the uber rich and inovative Musk has his way, a roof entirely made of solar-gathering materials could one day be used to power homes.
Musk, who is chairman of the clean energy company SolarCity, explained how a complete solar roof could play a “fundamental part of achieving a differentiated product strategy,” as opposed to placing solar cells on roofs.
The International Renewable Energy Agency produced areport earlier this year that predicted up to 13 per cent of the electricity generated around the world could be done by 2030 through solar power. Countries such as Brazil, Chile and South Africa are some of the most attractive markets at the moment for solar power.
Tesla, the electric car company, is currently in the middle of a deal to buy SolarCity for $2.6 billion (£1.97bn) to create the “world’s only vertically integrated sustainable energy company”.
One of the reasons for the deal is to help SolarCity become profitable. In February, it was reported that the company’s fourth-quarter revenue had increased but an increase in operating expenses led to “worse-than-expected” losses.