After months of back-and-forth chatter, Tesla Motors Inc (NASDAQ: TSLA) finally completed the acquisition of SolarCity Corp (NASDAQ:
SCTY) on Monday. And, the new, $28.5 billion market cap
Tesla is already up to great things.
According to a SolarCity blog post published Tuesday, the island of
Ta’u in American Samoa, previously powered entirely by diesel generators, will now get almost all of its energy from a solar power
and battery storage-enabled microgrid.
Specifics
The 5,328 solar panels and 60-Tesla-Powerpack microgrid provides 1.4 megawatts of solar generation capacity and 6 megawatt hours
of battery storage. With just seven hours of daylight, the system can power the whole island for three straight days.
Source: SolarCity
“It’s always sunny out here, and harvesting that energy from the sun will make me sleep a lot more comfortably at night, just
knowing I’ll be able to serve my customers,” said local merchant Keith Ahsoon.
Analysts' Outlook
Analysts believe Tesla can expect more projects like this one, which was funded by the American Samoa Economic Development
Authority, the Environmental Protection Agency and the Department of Interior, in the future. In fact, just recently, Global
Equities Research analyst Trip Chowdhry argued that President-elect Donald Trump’s positions on American manufacturing puts the
carmaker and solar energy company in a
unique position to benefit from his policies.
Latest Ratings for TSLA
Date |
Firm |
Action |
From |
To |
Oct 2016 |
Goldman Sachs |
Maintains |
|
Neutral |
Oct 2016 |
Goldman Sachs |
Downgrades |
Buy |
Neutral |
Sep 2016 |
Cowen & Co. |
Initiates Coverage on |
|
Underperform |
View More Analyst Ratings for
TSLA
View the Latest Analyst Ratings
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