Tesla to build solar neighborhood

Tesla to build solar neighborhood

Tesla to build solar neighborhood
In an announcement last week, Tesla CEO Elon Musk announced the company’s first major investment in a housing development. The Tesla Solar Neighborhood in Austin, Texas has been provisionally named SunHouse at Easton Park and will be powered by a variety of solar technologies developed by Tesla.

The community is expected to be completed in 8 to 10 years and contain about 10,000 homes that will feature the Tesla solar roof and battery storage system known as Powerwall.

The renewable energy features will be built into the cost of the home. Prices are expected to start in the low $300,000’s.

Today, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.00 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article