The Tesla solar roof is a wonderful innovative technology that will revolutionize the solar industry especially as more companies start to produce their own solar roofs. Tesla launched their solar roof with combined Powerwall battery system this week and everyone got very excited. But how excited should we be in Jamaica?
Here at Solar Buzz we get a lot of calls regarding new technology and the solar roof has been on people’s minds for 7 months since the initial announcement. My response to prospective solar clients would be to not get too excited about owning a solar roof in Jamaica anytime soon, for a few reasons:
A 2,000sf roof would cost J$10,500,000 before shipping and is estimated to offset 70% of your electricity bill. Florida has a solar tax credit but Jamaica has much higher energy costs so let’s say these even out for simplicity. A rough payback of this roof in Jamaica would be about 20yrs which puts us back to the early days of solar when regular panels were expensive at US$2/watt compared to US$0.50/watt now. Solar did not sell in those early days because the payback was too long. Actually solar is very cheap now and the solar market still struggles in Jamaica! This is mostly due to the lack of and a tedious financing process in Jamaica but that’s a whole different thesis.
This assessment is not to discourage anyone towards the solar roof as eventually all roofs will be made of solar tiles. However until that time conventional solar systems are at their most inexpensive levels of all time. A homeowner could buy a new roof and install a traditional solar system to offset 100% of electricity costs and payback for both in half the time of a Tesla solar roof right now. Eventually this will change but at this moment in time do not bank on a solar roof being available in Jamaica or feasible for many years to come. The time you spend waiting on the Tesla solar roof in Jamaica you could have bought a traditional solar system, a new roof and paid off both through your energy savings.
Solar Buzz Jamaica CEO-Jason Robinson