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Tesla's Solar Roof Will Be an Expensive Investment

Consumer Reports projects the product to be pricey up front, but to pay off in the future.

(TNS) -- The roof of the future is going to cost how much?

Well, Tesla CEO Elon Musk didn’t exactly answer that question when he unveiled his much buzzed about solar roof late last month. The closest he came was saying it would cost less installed than a normal roof plus the cost of electricity over the life of the roof.

So, Consumer Reports magazine did an analysis of its own to estimate how much a solar roof would have to cost in order for that statement to be true.

The price tag it came up with: $70,000 to $100,000.

Nick Gilewski thinks that estimate sounds a bit high.

“That’s very, very expensive,” he said.

Gilewski owns Go Green Electronically, an e-commerce store based in North Tonawanda that sells energy efficient consumer products. He also studied solar products for his thesis in industrial engineering technology. He said he would have to do a cost-benefit analysis to know whether the price tag seemed accurate or viable, but at that price, it would definitely be a deal-breaker for homes in Western New York.

Taking into account conditions such as snow removal and the amount of sun we get here, making solar energy a viable alternative in Western New York “is very tough to do,” he said. “More advancements need to be made before it’s cost effective here.”

An alternative much better suited to our region is geothermal energy, he said, which draws from heat naturally generated and stored in the Earth.

“That’s up and coming and that’s really big,” Gilewski said.

Casey Vallee of Niagara Falls was one of millions who watched and shared videos about Tesla’s solar roof on social media after it was unveiled.

She said the roofs, which look just like regular tile, asphalt and slate roofs, seemed like something from the future – something she would love to have on her home. They’re beautiful, clean and environmentally friendly, she said.

When she heard what Consumer Reports’ was projecting the roofs would cost, she was caught a bit off guard. But once she recovered, she wasn’t swayed against the innovative solar roofs.

“It’s more expensive up front but it will pay off in the future,” she said.

Here’s how Consumer Reports arrived at its price tag:

Using sources such as the Slate Roofing Contractors Association, the Tile Roofing Institute and the Remodeling 2016 Cost. vs. Value Report, it calculated material and installation prices. For a 3,000-square-foot roof, a clay tile version would cost $16,000, asphalt would cost $20,000 and slate would cost $45,000, it estimated.

Consumer Reports also estimated an average annual utility bill of $2,000, which it multiplied by the roof’s 30-year lifespan, bringing it to $60,000. Next, the magazine deducted $6,500 – the estimated cost of Tesla’s Powerwall 2.0 battery storage device and inverter needed to power the home – from the projected electricity cost savings from the Tesla roofs.

According to Consumer Reports’ calculations, Tesla’s Tuscan Tile will have to be priced at less than $69,500 installed in order to stay competitive with clay tile roofing over the 30-year span, its Smooth and Textured Tile will have to cost less than $73,500 to stay even with asphalt roofing and Slate Tile will need to cost less than $98,500.

The calculation doesn’t take into consideration any government subsidies, financing costs or the home’s location, orientation toward the sun or the roof’s angle.

Tesla is in the process of merging with SolarCity, which is constructing a new facility in Buffalo to manufacture solar cells.

©2016 The Buffalo News (Buffalo, N.Y.) Distributed by Tribune Content Agency, LLC.