Elon Musk just unveiled Tesla's solar roof and new Tesla Energy products
Behold, Tesla's solar roof:
Tesla CEO Elon Musk unveiled the solar roof at Universal Studios in Los Angeles on Friday night. Musk has been hyping the solar roof ahead of its shareholder vote for a SolarCity merger that's scheduled for November 17, calling it a "fundamental part of achieving differentiated product strategy."
The solar roofs that Musk showed off were installed on houses on Universal Studio's famous backlot, which recreates a suburban environment.
At the event in LA, Musk stressed the integration of Tesla's products, which will include SolarCity products when the a merger is complete.
Musk has said Tesla and Panasonic will produce solar cells at a plant in Buffalo, New York if the SolarCity merger passes. The Buffalo News reported that initial solar production will center around the solar roof product.
Musk also showed off the new version of its at-home battery, Powerwall 2.0, that will sell for $5,500. The first version of Tesla's Powerwall stored 6.4 kWh worth of energy and was priced at $3,500.
Tesla received 38,000 pre-orders for the Powerwall, selling out through the first half of 2016. Tesla and its partners have invested about $5 billion to get its giant battery plant, the Gigafactory, to achieve full production by 2017. The Nevada-based factory is expected to build 500,000 batteries a year by the end of the decade once it is fully operational.
Musk wrote in a blog post that the two products will help "create a clear picture of how a combined Tesla and SolarCity will make solar and storage as compelling as electric vehicles - an achievement that would advance our mission of accelerating the world's transition to sustainable energy."
Tesla's proposed merger with SolarCity has taken heat. Tesla has a lot to contend with in 2017 as it ramps up production for the Model 3, and would be adding SolarCity's almost $3 billion in debt to its balance sheet.
SolarCity hasn't had a great year, either. The company is burning through cash, and its shares have plummeted by 45% since the beginning of the year. SolarCity has also cut its marketing costs and laid off members of its sales and marketing team.