Elon Musk, the CEO of Tesla (TSLA) and chairman of SolarCity (SCTY), hopped on an earnings call Tuesday night amid acquisition talks between the two companies to announce that SolarCity plans to release a “solar roof.”
Not a roof with solar panels, mind you. A solar roof.
“It’s a solar roof as opposed to a module on a roof,” Musk said on the SolarCity earnings call. “It’s not a thing on the roof, it is the roof.”
The idea is that instead of just selling solar panels that can be placed on someone’s existing roof, SolarCity can sell the entire roof itself with the solar power capabilities built into it, potentially opening up a whole new market.
“If your roof is nearing end-of-life, well, you’ve got to get a new roof anyway,” Musk explained. “And so, why not have a solar roof that’s better in many others ways as well?”
“That they are separate at all, despite similar origins and pursuit of the same overarching goal of sustainable energy, is largely an accident of history,” Musk wrote in his updated “master plan” posted to Tesla’s website last month to explain why the two companies should merge.
In that post, Musk first teased his long-term plan to build “stunning solar roofs” with SolarCity’s technology and have them “seamlessly integrated” with Tesla’s homebattery storage technology.
“Solar and battery go together like peanut butter and jelly,” Musk said on the earnings call Tuesday.
The acquisition, which needs to be approved by shareholders, wascriticized by some on Wall Streetfor effectively stringing two ambitious money-losing companies together.
SolarCity’s net loss grew to $250 million in the second quarter from $156 million in the same period a year earlier, the company announced in its earnings report — before talking up the solar roofs.
Likewise, Tesla revealed last week that its losses for the second quarterballooned to $150 million, more than twice what Wall Street had expected, as it invests heavily in building a battery factory and the cheaper, mainstream Model 3 vehicle.
So naturally Musk followed up that report by announcing to investors that Tesla will unveil not one buttwo new vehiclesin the next six to nine months.
CNNMoney (New York)First published August 10, 2016: 10:14 AM ET
Prior to 2008 the Phoenix area monsoon was considered to have started when there were three consecutive days when thedew pointaveraged 55 degrees or higher. In 2008 the National Weather Service decided to take the guesswork out ofmonsoonstart and end dates. After all, monsoon is a season, and most people should not be concerned with whether or not a particular dust storm was defined as monsoon storm or not.
Beginning in 2008, June 15 is established as the first day of monsoon, and September 30 will be the last day. Now we can be more concerned withmonsoon safetyand less concerned with definitions.
More About Phoenix Monsoon
Meteorologists still track and report dew points and study monsoon weather patterns.
Here are some technical monsoon facts for our area. The facts relate to dew point and the meteorological definition of monsoon and not the date on the calendar.
The average starting date of the monsoon in Phoenix is July 7.
The average ending date of the monsoon is September 13.
The earliest start date for the monsoon was June 16, 1925.
The latest start date for the monsoon was July 25, 1987.
The average date of the first break in the monsoon is August 16.
The average total number of monsoon days (where a monsoon day is considered one with an average dew point of 55 degrees or higher) is 56.
The greatest number of monsoon days was 99, recorded in 1984.
The fewest number of monsoon days was 27, recorded in 1962.
The greatest number of consecutive monsoon days was 72, from June 25 through September 4, 1984. This was also the greatest number of consecutive days with dew points of 60 degrees or higher.
In Phoenix, normal rainfall during July, August and September is 2.65 inches.
The wettest monsoon occurred in 1984 when we had 9.38 inches of rain.
The driest monsoon occurred in 1924 with only 0.35 inches.