Tesla finally acquire SolarCity

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Elon Musk has a vision. One of the pieces of making that vision become reality fell into place when SolarCity officially became a part of Tesla yesterday.

Tesla finally acquire SolarCity
Elon Musk

Nobody really knows what Elon Musk’s vision is. All we know is that he has been in the news a lot lately either buying up things or telling us about the things he would do for an ungrateful world if given the chance. More on that later.

Yesterday’s acquisition of SolarCity was just the official seal to what so many people knew was a fait accompli. For several months now, Elon Musk has being selling a vision of SolarCity and Tesla as one company being a part of his grand vision.

So it was no surprise when SolarCity agreed to sell the company to Tesla for $2.6 billion two months ago. And last week, the shareholders signed off on the deal.

So yesterday, it was the turn of Tesla  and SolarCity shareholders to pass a vote on the deal. As expected, shareholders from both companies agreed to the deal.

Tesla finally acquire SolarCity
Elon Musk (center) with his cousins and founders of SolarCity, Peter Rive (left) and Lyndon Rive (Right)

Well, it couldn’t have gone otherwise considering that Elon Musk is the Chairman and CEO of Tesla. SolarCity on the other hand, was founded and co-owned by his cousins Peter Rive and Lyndon Rive. Elon Musk is also the co-chairman of the board of SolarCity. Basically, nothing could have gone wrong with the deal.

So what does SolarCity bring to Tesla’s table? Why was Elon Musk so keen on making SolarCity a part of Tesla.

It all makes perfect sense when you think of what SolarCity does. SolarCity is the biggest provider of solar energy to homes and businesses in America. The company designs, makes, delivers, installs, monitors and maintains solar equipment and services all over the United States.

To give you and idea of how huge they are, 15,000 people are directly employed by the company based in California.

Tesla finally acquire SolarCity
Elon Musk at the presentation of a model Powerall solar powered home recently

One of the things SolarCity brings to the Tesla table (apart from an annual cash income of about half a billion dollars) is their expertise in making batteries used for storing energy.

With SolarCity being a part of Tesla now, Tesla hybrid cars would get first shot at any new improved batteries that could be used in Tesla motors.

Don’t be surprised if in the not too distant future, Tesla motors are fixed with solar roofs to be used to harvest the sun’s energy to charge the solar cells in the cars.

Talking about Solar roofs. It was just a few weeks ago that Elon Musk in an elaborate ceremony in Hollywood, presented what he hoped would be the preferred roofs for America’s houses in the future.

The roofs, produced by SolarCity, are part of new homes known as Powerall. The roofs are essentially high grade solar panels that would collect the sun’s energy. In the house, are SolarCity-made batteries to store the energy coming from the solar roofs.

Tesla finally acquire SolarCity
A practical example of SolarCity solar roof being used in a Walmart distribution center

I guess you know where this is going by now. Powerall homes are all about people providing their own energy for themselves without any recourse to the public power grid. The good thing about them is that the energy produced is clean and renewable.

But I guess Powerall homes wold not be practicable in some areas of the world. You need a lot of sunshine for it to make financial sense.

Like I said earlier, we don’t really know what Elon Musk’s vision is. But this we know: he wants to make it possible for people to make their way to Mars and back in a sort of space tourism for the very rich.

Again, just recently, SpaceX, one of his companies, filed papers at the FCC to be allowed to saturate space with thousands of small satellites to be used to provide high-speed Internet services at reduced cost all over the world.

And let’s not forget Tesla cars.

From where I am standing, his vision could be this: to be the most influential man on the planet without actually being the leader of the most powerful country in the world.

 

image credit: theodysseyonline.com; fortune.com; youtube.com; fool.com

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