Is The Tesla V3 Solar Roof Worth The Money?

last year when I looked at the Tesla solar roof I determined that it was still not worth it in terms of a financial investment compared to just adding solar panels to my existing roof or getting a new roof and then adding panels to it but since then Tesla released version 3 and has dropped the price by thousands of dollars so I thought we could just have another look and see whether or not it makes financial sense to buy and install a brand new Tesla solar roof let's free the data if you've been following the channel for a while you'll know that this is my third has a solar roof video with the first one uploaded all the way back in 2016 back then Elon made some big claims saying it would look better than a normal roof and generate electricity last longer and more but then we waited and nothing seemed to happen that was until March of 2019 when Elon told us 20:19 would be the year of the solar roof but alas the model 3 production ended up taking almost all of Tesla's focus and everything just seemed to stop so we waited some more and now here we are in 2020 and I'm wondering whether or not it makes sense now especially given how low interest rates in the current pandemic when I looked back at this in 2019 the calculator on the tousle website estimated that a solar roof would cost about $75,000 for a 2,000 square foot house using the calculator at the time what I found was that it was actually a 33% premium for the solar glass versus just a new roof and solar panel so really it didn't make a lot of sense and certainly for me that was way too much even if I didn't have solar already and in the end I determined that for most people especially people who didn't need a new roof it really didn't make sense compared to just installing solar panels on your current roof unless you wanted the cool factor and happen to have the money to spend but then in October of 2019 Elon said that the v3 solar glass roof price point is less than the average of a new roof plus solar panels he went on to say that he thinks that this will be the case about 80% of the time now that's big especially when we compare it to the previous cost that we already reported on so checking the tesla website now it looks like that same v3 solar glass roof would be $43,000 cheaper than it was in 2019 now at that price you're looking at two dollars and eleven cents per watt for the solar roof and then two dollars and six cents for the regular solar panels and overall this comes out to be about a ten thousand five hundred dollar difference so we also have to think about how they'll hold up are they strong well they're made with tempered glass and as my friend Zach from Jerry rig everything channel likes to say glasses glass and glass breaks but these tiles are actually three times stronger than standard roofing tiles and are engineered for this all-weather durability according to Tesla the specs specifically note that the tiles are rated for one hundred and thirty mile per hour winds which covers a category three hurricane they also come with a class three hail rating which is about a 1.75 inch diameter hail size which is kind of close to a golf ball a pretty extreme condition but it does happen from time to time so if they're strong even though they're glass and we know glass breaks will they last [Music] the solar room comes with the 25 year warranty which is pretty good it includes the tiles in the kind of roof aspect as well as the power generation so the solar PV system that you typically have and comparing that to a regular roof which can last anywhere between 15 to 50 years it's kind of smack-dab in the middle the big variability there is the materials and workmanship as well as any other kind of weather events that may occur or things like a tree falling down on top of the house it is interesting to see kind of some of the demos and the examples out there but overall it looks like this is going to be a durable product at least on paper and another big improvement here probably that helps with that cost reduction is the install time there are some stories out there previous installation taking weeks if not over a full month just to get your solar roof installed but now it seems to be more streamlined and this is likely due to eliminating the various types of design options and only offering a single design according to Tesla the install time is dependent on the size and complexity of your roof but most installations take approximately one week to complete and earlier this year we actually started to see some of these in the wild you may remember that I helped my friend John Rhett injure who reviewed one of the very first installs by comparing a regular roof and the solar industry averages per watt to what the guy that actually got it installed paid for his Tesla solar roof in that video we looked at a 9.2 kilowatt solar glass roof which cost $65,000 but did include a power wall so minus that and you're right at fifty six thousand dollars for the solar roof alone this left us with a cost of six dollars and twelve cents per watt versus the average cost of three dollars and forty four cents per watt and another install the Tesla recently did in Florida on a 3,400 square foot roof with an 18 kilowatt solar power system came in at a $7 per square foot and $2 65 cents per watt this is before incentives according to electric so the economics on it can vary greatly and again you're looking at the higher end roofing materials here and obviously if you were just to get a regular solar install and not do anything else to your roof yes that would clearly be cheaper but what we're getting here is much more so that comparison is kind of unfair really and when I did look at those numbers what I found was that a new asphalt roof plus solar panels of the same size at 9.2 kilowatt system that we're comparing to in Southern California comes to just under forty three thousand dollars based on the average industry costs this is fourteen thousand dollars cheaper than otezla Solar roof however again you're getting an asphalt roof not one of these higher-end roofing materials so when you compare it to something like metal tile or slate the Tesla solar roof wins out by around thirteen thousand dollars all the way up to seventy seven thousand dollars for the higher-end slate roof with the panels this means that the Tesla solar roof is cheaper than all other high-end roofing options from a range of thirteen thousand to seventy seven thousand dollars so if you're in that market this is definitely something to consider and another thing to keep in mind is it actually isn't a bad time right now given the federal tax credit is still in place and interest rates are so incredibly low and if you're unfamiliar with that or maybe you have forgotten the current federal investment tax credit the ITC as it's called is twenty six percent meaning whatever you pay for your solar panel system solar glass roof whatever option you go you'll get a twenty six percent credit on your taxes for the following year now that already has begun its phase-out and it's gonna kind of gradually phase out over the next several years but hopefully by then we'll renew that and it'll kind of come back to life because solar energy does employ a ton of people around the world and it helps the grid there's just so much positive economic reasons to renew this incentive so we'll see but as of right now it's still in place and it's still helping you kind of make this more economical and something we didn't talk a whole lot about is a Tesla power and how that can benefit you if you want to learn more about that I have a video over here that you can go check out on how I set it up at my house and how we're actually saving money so thanks for watching don't forget when you feed the data your mind will follow I'll see you back here in the next one [Music]

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