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How HVAC Could Become Tesla’s Next Frontier After Auto, Solar

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How HVAC Could Become Tesla's Next Frontier After Auto, Solar

Tesla Inc. (NASDAQ: TSLA) has been a disruptive company in the automotive sector and is working on changing solar power markets. HVAC could be one of the businesses that Tesla shakes up next. 

What Happened: Tesla CEO Elon Musk said on Twitter last week that “we will make super-efficient home HVAC with HEPA filters one day.”

The quote was in response to someone who posted about the great air quality in their Tesla vehicle thanks to the “Bioweapon Defense Mode” that comes in some models.

Musk’s HVAC Plans: Tesla acquired SolarCity to boost its energy offerings. The company also is working on the storage of power generated inside homes. 

Tesla recently increased its focus on solar roof installation by training multiple companies to help install the product across the U.S.

TechCrunch called Tesla HVAC “a logical extension of business” and said HVAC represents a large portion of a home’s energy consumption.

With Tesla’s energy storage offering and HVAC systems, the company could come close to providing off-grid self sufficiency.

“As I said on Twitter, I’m personally extremely excited to build a kicka– HVAC system that also has hospital-grade particle filtration,” Musk said on an earnings call. ”The Model S and X are the only cars in the world that have a hospital operating room-grade HEPA filter built in.” 

Musk’s idea for HVAC includes connecting the car to the house.

The “house could talk to car and know when you’re expected home, so temp and humidity would be perfect just as you arrive.”

A Tesla HVAC system “could maybe tap the condensation for water too,” Musk said, adding that it “seems odd that HVAC systems make pure, fresh water and just dump it on the ground.”

Palihapitiya Says Tesla’s Energy Work ‘Worth Trillions’: Tesla investor Chamath Palihapitiya told CNBC that Tesla is undervalued based on its energy initiatives.

“It is the leading hedge when it comes to electrification and decarbonization,” Palihapitiya said, calling cars “the first wave of growth.”

“This is worth trillions of dollars,” he said. “What Tesla is going to do with their battery packs and software will all of a sudden allow each of us to be in the energy business, as well,” Palihapitiya said.

Musk has said he wants the energy portion of Tesla’s business to grow over time.

“I think long term, Tesla Energy will be roughly the same size as Tesla Automotive. I mean, the energy business collectively is bigger than the automotive business.”

Energy represented only 6% of Tesla’s business in the second quarter.

What’s Next: HVAC could be several years away for Tesla with no major announcement from the company.

“At Tesla, we have a tendency to bite off more than we can chew on the product front,” Musk said when discussing HVAC.

All eyes are on Sept. 22 at Tesla, when the automaker hosts its Battery Day.

See more from Benzinga

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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Three men are accused of creating ‘man cave’ under Grand Central station [Video]

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Three men are accused of creating 'man cave' under Grand Central station [Video]

Three railroad workers have been suspended for turning a storage room under New York’s Grand Central Terminal into an unauthorized “man cave” with a television, a refrigerator, a microwave and a futon couch, officials said Thursday.

Video Transcript

[MUSIC PLAYING]

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What Is a Jumbo CD?

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Yahoo Finance

A certificate of deposit, more commonly known as a CD, is a type of bank account that pays interest in exchange for the depositor leaving their funds in the account until it matures. A jumbo CD functions in the same way, … Continue reading ->The post What Is a Jumbo CD? appeared first on SmartAsset Blog.

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Germany pays tribute to victims of 1980 Oktoberfest bombing

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Germany Oktoberfest Attack Memorial

BERLIN (AP) — Senior officials and survivors paid tribute Saturday to the victims of a deadly neo-Nazi attack on Munich’s Oktoberfest 40 years ago, as Germany’s president warned that far-right extremism remains a persistent problem in the country.

The bombing on the evening of Sept. 26, 1980, claimed 13 lives, including that of three children and the attacker, student Gundolf Koehler, a supporter of a banned far-right group. More than 200 people were wounded.

“Right-wing extremism has deep roots in our society,” President Frank-Walter Steinmeier said at a memorial event in the Bavarian capital. Germany has seen a number of further attacks inspired by anti-Semitism, hatred of foreigners and neo-Nazi ideology in recent years, including a series of far-right killings that police initially attributed to migrant gangs.

Steinmeier said the perpetrators weren’t “disturbed people,” but rather part of “networks that we need to investigate.”

An initial investigation of the Oktoberfest attack concluded that Koehler acted alone, out of personal frustration. But in 2014, federal prosecutors revisited the case after a previously unknown witness surfaced.

In July, prosecutors said the witness’ indications that there may have been co-conspirators hadn’t been corroborated, but that it was clear Koehler had been motivated by far-right extremism. Victims’ lawyers say there are still many unanswered questions about the attack.

Bavaria’s governor, Markus Soeder, apologized to survivors and the victims’ families for mistakes made during the initial investigation.

Earlier this week, the German government announced it was setting up a 1.2 million-euro ($1.4 million) fund to help survivors of the attack.

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Christine founded Sports Grind Entertainment with an aim to bring relevant and unaltered Sports news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research.

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