Economics Technology Upriser

Elon Musk Announced Another Huge Bet Today, And The Fate Of The Solar Industry Is Riding On It

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Tuesday, SolarCity (Elon Musk’s other company) announced plans to build one of the world’s largest high-efficiency solar panel plants.

“We expect to have to install 10 gigawatts [of high-efficiency panels] a year, If you look at the current capacity in the world, we’re not able to do that right now.” Stated Elon Musk at a recent SolarCity conference call.

Solar panel prices have decreased in recent years thanks to a production boom in China. But these Chinese panels though cheap, are not very efficient.

But will the demand be there? Polling suggests yes. But current interest and sales suggest other wise.As of last year, the cost of energy for rooftop generation remained about double that of coal.

But it would appear that SolarCity has a great shot at getting to parity as long as storage costs come down.

“Musk did not rule out selling their new panel technology to others. Utility-scale solar remains the largest source of solar generation in the U.S., and there is no sign they’ve made any moves to confront the coming price hike. Utility developers wouldn’t be in a position to do much any way.”

“So SolarCity, and the solar industry at large, sure looks like it needs these two gigafactories to continue to thrive.”

[SOURCE](http://www.businessinsider.com/elon-musk-just-made-the-same-huge-bet-on-solarcity-that-hes-making-with-tesla-2014-6)

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“Elon Musk Announced Another Huge Bet Today, And The Fate Of The Solar Industry Is Riding On It”