Tesla shares (NASDAQ:TSLA) are now projected to rise even further after reports showed that the company’s solar roof tiles have sold out until 2018. The glass tiles were launched by Tesla prior to the company’s official merger with solar panel-making company SolarCity Corp.
Reports showed that Tesla is now currently out of stock for its solar roof tiles just more than two weeks after the beginning of the solar roof panel pre-sales where shortage has been stretched by as long as next year.
This has led to analysts projecting another boost in both Tesla’s stock and sales. Although investors are afraid that the company would be responding with another production expansion which would lead to more cash spending.
Tesla, which has been preparing over the past months to ship out its very first batch of solar roof panels, has been also pressured with growing competition from companies who has been continually coming up with similar solar products to compete directly with Tesla’s solar roof.
Despite this, Tesla’s tiled design, which appears to be just normal roofs with the option of looking like slates or terracotta tiles remains to be preferred more by the markets compared to others who came up with more affordable, non-camouflaged or badly camouflaged solar panels. Some companies even offered faster delivery and installation at a much lower cost.
Tesla CEO Elon Musk has also previously spoken on how their solar panels would be preferred more by buyers because of its normal roof design.
As of May, customers have started to order the solar room through Tesla’s official website. Installation then will begin as early as this month in the United States and outside the country by 2018. The Tesla solar tiles costs $42 per square foot including installation.
Despite the seemingly high cost of the overall solar roof installation from Tesla, this would allow homeowners eligible for federal tax credit amounting to $15,500 or around $62,100 worth of electricity in the next thirty years. Although according to Tesla, regular homeowners would have to pay around $21.85 per square foot of the Tesla solar roof since the cost can be included in the homeowner’s mortgage payments and can be paid over time.
Tesla has also offered an infinity warranty for all the roof tile products which the company guaranteed to be able to provide solar power by as long as thirty years.
Meanwhile, Tesla is currently holding a large recruitment drive which will be working on the installation of the Tesla and regular solar panels who will be trained in accordance to Tesla’s warranty standards.
On the other hand, Tesla is set to release another series of solar roof designs during the first quarter next year where Tuscan style glass tiles and Slate glass tile roofs will be offered.