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Elon Musk

Tesla CEO Elon Musk said that “your family’s life might depend on” having solar, despite that he’s part of a US government administration that has already made it harder to get solar, and seems poised to try to make it even harder.

Tesla hosted its Q4 and full year 2024 earnings call today, missing expectations on revenue and earnings. The company had its first down sales year since 2011, despite a rising EV market. The market initially responded poorly to the numbers, but recovered as Tesla guided a return to growth.

As part of the call, an investor asked if Tesla had given up on ramping its solar roof. The product was originally unveiled way back in 2016, and hasn’t particularly lived up to the hyped expectations of the time (especially due to some, uh, hiccups along the way).

Tesla’s answer highlighted that the roof remains a core part of its residential product portfolio, along with Powerwall, and that it draws a lot of customer interest despite it being a “premium” product (in contrast to original promises that it would cost less than a regular roof). But Tesla isn’t installing the roof itself, it says it would rather produce units to send to the roofing industry.

Then, CEO Elon Musk went into a soliloquy about the benefits of having home solar, which are true if perhaps a little overstated:

I think it looks really cool, and your house generates electricity. And if you combine it with the Tesla Powerwall battery, then you can be self sufficient, so that even if the grid turns off – even if the grid turns off for several days – your house still works. And your roof looks awesome. So it’s like, I recommend anyone who can afford it, get Tesla’s solar roof and Powerwall, your family’s life might depend on it. And just in terms of convenience, your kids are not gonna yell at you cause their computers don’t work and their power went out and they cant charge their phone. Actually happens. You literally cant even call anyone cause your phone’s out of juice.

Despite the answer being a bit rambly, there’s an important portion in there, when Musk says “your family’s life might depend on it.”

This is perhaps a little alarmist, but there is a point to be made in there. Having ready access to energy can be helpful in a bad situation, like for example during increasing natural disasters which Musk himself seems to deny are happening.

So, while Musk is wrong about climate change, he’s right that solar and batteries can increase resiliency of a home – which could, indeed, be lifesaving for that home’s residents in certain circumstances. But it’s still hyperbolic, and self-serving, to leverage these fears in order to sell a “premium” product – one which costs in the multiple tens of thousands of dollars – to fearful family members.

But then we must consider the larger context in which these words were said.

The White House’s occupant opposes solar

Unfortunately for the US, and for Elon Musk’s businesses selling renewable energy products, that three-time candidate finally managed to get more votes than his opponent (while still failing to attain a majority, and despite committing treason in 2021, for which there is a clear legal remedy). And after campaigning against solar, he’s already started attempts to marginalize it as an energy source in his first week squatting in the Oval Office.

On his first day occupying the seat on which traitors do not belong, he signed a memo stating that the US should focus on all forms of energy except wind and solar, the latter of which the company that virtually all of Musk’s wealth comes from sells.

Mr. Trump has also attempted to freeze disbursement of funds related to the Inflation Reduction Act, some of which go to solar projects. The IRA reduces energy costs for Americans and was responsible for a massive boost in American manufacturing, both things which Mr. Trump opposes.

We’re not sure what effect these directives will have, given their questionable legality and the fact that Congress is responsible for government budgets, not former reality TV hosts. But then again, it should be expected that a convicted felon would break the law again, especially if said felon shows no remorse for their illegal actions.

And Mr. Trump has ignorantly promised – inasmuch as the promises of a compulsive liar ever matter – to continue to attack this cheap, clean energy source in his quest to make life worse for Americans. Many estimate there is more nonsense to come, and given past experience with the ignoramus in question, that seems like a good bet.

But we’re talking about Elon Musk here, what does he have to do with all of this?

Elon Musk’s involvement in anti-solar actions

Elon Musk spent much of last year campaigning for Mr. Trump, despite that he made it openly clear that he wants to harm solar, the fastest-growing energy source in the US, which is cheaper and cleaner than fossil fuels. That candidate instead favors dirty, costly fossil fuel energy.

As a thank you for Musk’s massive bribes to Mr. Trump’s campaign, he has been appointed to the Department of Government Efficiency. This is not an actual department, but an advisory panel with no official authority.

It was created to be helmed by Musk and Vivek Ramaswamy, two of the supposedly most intelligent and capable republican operatives, who nevertheless were both tasked to do a job that would normally accomplished by one person (Ramaswamy has since quit or been forced out, before the job even started). The panel has a redundant mission to the already-existing Government Accountability Office – making it a redundant office to reduce redundancy (no, this is not a Monty Python sketch, this is apparently real life).

So, Musk is an official part of this administration which is making these anti-solar moves.

It’s a change from Musk’s previous statements about solar power. Even as recently as 2022, Musk has decried anti-solar moves, and yet he’s now thrown large chunks of his personal wealth and effort into a group committing several of them.

While Musk and his advisory panel haven’t necessarily been directly associated with these anti-solar actions, the idea of freezing government funds is related to the supposed purview of his department, so it would be reasonable to think that he might have some input into this.

Further, Musk has shown in the past that when an administration does something he objects to, he’s willing to leave an advisory position in protest. He did this in 2017 when Mr. Trump signaled that he wanted to pull the US out of the Paris Agreement, an action which Musk said was “not good for America or the world” and quit an advisory board that he had been on (Trump did the same thing again last week, and Musk didn’t resign his position this time, signaling his newfound spinelessness).

So – the fact that Musk has not pulled out of the administration despite these anti-solar moves, combined with the fact that he has shown disapproval through resignations before, suggests that he at least tacitly accepts these moves to make it harder for you to install solar.

So… Elon Musk says you’ll die without solar, but wants to make it harder for you to get it?

And now we get to the point of this all: if Elon Musk thinks that your family is in mortal peril if it doesn’t install solar panels, but he also seems okay with government making it harder to install solar panels, does that mean he wants you to die too?

Worth a thought, especially for those apparently few investors who are still onboard for Tesla’s mission, rather than just holding onto base hopes that the company might benefit from some unspecified corruption.

Although, given the policies we’ve seen, which will directly harm Tesla’s business, maybe even that latter group might reconsider how the corruption is working out for them.

If you’d like to install home solar from a company that *isn’t* working actively to harm solar adoption in the US,  it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

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A quarter of Tesla’s earnings were due to recongnizing a $600 million gain on Bitcoin

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3 hours ago

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January 30, 2025

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A quarter of Tesla's earnings were due to recongnizing a 0 million gain on Bitcoin

Roughly a quarter of Tesla’s earnings last quarter were due to recognizing a $600 million gain on Bitcoin. Tesla still came short of expectations.

Tesla and Bitcoin

Tesla is among the few large public companies that invested some of their cash into cryptocurrency.

Early in 2021, Tesla invested $1.5 billion in Bitcoin. Shortly after, the automaker started accepting the cryptocurrency as payment on new vehicles.

However, a few days later, Tesla took a step back with crypto by removing the Bitcoin payment option. The company noted concerns over the energy needs of the Bitcoin network:

Tesla has suspended vehicle purchases using Bitcoin. We are concerned about rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel.

This is a concern that many Tesla community members shared when Tesla first announced its Bitcoin investment, and many were angered by the fact that the company didn’t think about it in the first place.

At the time, Tesla noted that they were not selling their stake in Bitcoin and that they planned to resume taking Bitcoin payments once the network showed a higher mix of renewable energy.

Last year, Tesla made some moves that pointed to starting to take Bitcoin payments again, but it has yet to happen.

A year after the initial investment, Tesla’s Bitcoin holding increased to $2 billion, but the cryptocurrency lost a lot of its value in 2022 and the automaker’s position suffered – though the automaker also divested about 75% of its Bitcoin position during that time.

Tesla reported over $1.2 billion in proceeds from selling Bitcoins, but the automaker still sits on a good amount.

Tesla’s Bitcoin move in Q4 2024

Last quarter, Tesla moved its bitcoins around into new wallets, triggering a lot of speculation. We suspected that Tesla might be moving things around to comply with the latest crypto accounting regulations.

Sure enough, with the release of Tesla’s Q4 2024 earnings yesterday, the automaker confirmed that it moved the Bitcoin to comply with the adoption of ASU 2023-08.

The move enabled Tesla to record a $600 million mark-to-market gain, accounting for a significant part of its $2.3 billion net income in Q4, which was already down 70% year-over-year.

Tesla disclosed in a SEC filing today:

Other income (expense), net, changed favorably by $523 million in the year ended December 31, 2024 as compared to the year ended December 31, 2023 primarily due to remeasurement of our bitcoin digital assets to fair value in 2024 (see above), partially offset by unfavorable fluctuations in foreign currency exchange rates on our intercompany balances.

If it wasn’t for Bitcoin, Tesla’s net income would be down 78% in Q4 2024 compared to Q4 2023.

If you remove regulatory credit, it would be down 86% and Tesla’s earnings would add up to barely more than $1 billion compared to its more than $1 trillion valuation.

Electrek’s Take

Bitcoin literally saved Tesla’s quarter. Unless there’s another major run-up in Bitcoin, that won’t happen again because Tesla has benefited from not measuring Bitcoin’s value for more than a year.

It was great timing for Tesla, but it won’t be able to save the company in Q1 2025, which is expected to be more challenging as it transitions its Model Y to the new version.

But based on the stock price today, it appears that Elon still has strong shareholders support as they still believe in his AI-related predictions.

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Range Rover’s first EV now has 57,000 buyers on the waitlist

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3 hours ago

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January 30, 2025

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Range Rover's first EV now has 57,000 buyers on the waitlist

Range-Rover's-first-EV-waitlist

The wait is almost over. The Range Rover electric SUV will finally hit showrooms this year. As one of the most anticipated launches of 2025, Range Rover’s first EV already has 57,000 buyers on the waitlist. Here’s what you can expect from the luxury electric SUV.

Range Rover’s first EV secures 57,000 on the waitlist

After announcing third-quarter earnings this week, Jaguar Land Rover (JLR) said demand continues building for the Range Rover Electric SUV.

Ahead of its official debut later this year, JLR confirmed Range Rover’s first EV now has 57,000 clients on the waitlist. That’s up from around 48,000 in November.

With sales of Range Rover’s plug-in hybrid (PHEV) models surging 163% in Q3, JLR said more buyers are taking the steps toward electrification.

The company promises that the Range Rover Electric will be “the most capable luxury SUV” on the market. In November, we got our first look at the new model undisguised during extreme weather testing. JLR is putting it through “the most intensive testing any Range Rover vehicle has ever endured” ahead of its arrival.

Range-Rover's-first-EV-waitlist
Range Rover Electric SUV testing (Source: JLR)

According to Range Rover’s executive director of product engineering, Thomas Müller, the EV is already outperforming its iconic gas-powered models.

After driving the Range Rover Electric up 328 ft (100 meters) on fine sand, Müller said, “Range Rover Electric matches the performance of its ICE equivalents; in some instances, even surpassing them.”

Range-Rover-Sport-EV
Range Rover Electric prototype testing (Source: JLR)

Range Rover’s first EV will hit showrooms later this year. The brand claims its new in-house electric powertrain will enable Range Rover to “exceed its already renowned performance on low-grip surfaces, ensuring all-terrain, all-weather, and all-surface capability.”

Following the Range Rover Electric, a smaller Sport model will be introduced, which was caught at testing at Nurburgring (Check it out here). Next year, Range Rover will launch a mid-size electric SUV, likely the Velar.

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Velotric Valentine’s sale offers $800 in e-bike savings from $999, EcoFlow DELTA 2 Max and RIVER 3 Plus flash sales, more

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January 30, 2025

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Velotric Valentine's sale offers 0 in e-bike savings from 9, EcoFlow DELTA 2 Max and RIVER 3 Plus flash sales, more

velotric discover 1 plus

We have a condensed selection of solid savings in today’s Green Deals, with Velotric’s Valentine’s Day sale taking the lead with up to $700 in initial e-bike price cuts, as well as an additional $100 taken off orders of any two models. It’s the perfect chance to fall in love with the popular 2024 Discover 1 Plus e-bike while it’s down at $1,199, among others. There’s also a one-day-only flash sale running as part of EcoFlow’s ongoing Game Day Power sale, which provides up to $1,099 in savings on two power station bundles – one for the DELTA 2 Max and and an 800W alternator charger at $1,399, and the other for the RIVER 3 Plus with a 45W solar panel and a protective bag for $269. We also have the second-ever discount on Greenworks’ latest 60V 17-inch Cordless Electric Push Lawn Mower at $300. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s $200 launch discount on Aiper’s new Surfer S2 Solar Pool Skimmer, Segway’s Valentine’s Day offers, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Fall in love with Velotric’s 2024 Discover 1 Plus e-bike at $1,199 during Valentine’s Day sale

Velotric wants to celebrate the love with its latest Valentine’s Day sale that is taking up to $700 off its e-bike lineup alongside 30% off accessories, as well as an additional $100 in savings on orders of any two models. One of the best options from under Velotric’s flag is the 2024 Discover 1 Plus e-bike that is down at $1,199 shipped. This model usually carries a $1,599 price tag most days, with sales often taking things down to $1,299, though we’ve seen it go as low as $1,099 occasionally in 2024 – most recently during Black Friday. This is a $400 markdown from its full price, which gives you the chance to hop aboard your own at the third-lowest price we have tracked – $100 above the Black Friday low.

Velotric’s updated 2024 Discover 1 Plus e-bike comes stocked with a 500W motor (peaking at 900W), a 692Wh battery, and five levels of PAS to support your commute up to 65 miles on a single charge at up to 28 MPH top speeds (after unlocking the capabilities above its standard 20 MPH speed). Of course, there is a throttle to go full electric when you want but keep in mind that this will reduce its travel distance. While it doesn’t have some of the fancier bells and whistles of the new Discover 2, like the upgraded parts, higher power ratings, and Apple Find My integration, this predecessor does offer some solid features, especially when considering the affordable price.

Velotric’s 2024 Discover 1 Plus e-bike sports other features like the Shimano 7-speed derailleur, an integrated 60 lux LED headlight, a taillight with braking functionality, double hydraulic disc brakes, larger 26-inch puncture-resistant tires, an increased IPX7 waterproof rating, fenders above both tires, and a 3.5-inch LCD display. There’s a USB-A port on the display to charge your phone as you ride, and it even has a walk assist mode for when you are forced to stop your ride to get it up extreme inclines.

Velotric’s other Valentine’s Day sale offers:

  • Fold 1 Lite e-bike: $999 (Reg. $1,099)
    • 28 MPH for up to 48 miles
    • 30% off accessories with e-bike purchase
  • Go 1 Utility e-bike: $999 (Reg. $1,699)
    • 25 MPH for up to 55 miles
    • 30% off accessories with e-bike purchase
  • Fold 1 Step-Thru e-bike: $1,199 (Reg. $1,399)
    • 28 MPH for up to 55 miles
    • 30% off accessories with e-bike purchase
  • T1 ST Plus Lightweight e-bike: $1,299 (Reg. $1,549)
    • 28 MPH for up to 70 miles
    • 30% off accessories with e-bike purchase
  • Nomad 1 Plus Step-Thru e-bike: $1,399 (Reg. $1,799)
    • 28 MPH for up to 55 miles
    • 30% off accessories with e-bike purchase
  • Packer 1 Cargo e-bike: $1,699 (Reg. $2,199)
    • 25 MPH for up to 52 miles
    • 30% off accessories with e-bike purchase
  • Discover 2 e-bike: $1,799 (Reg. $1,899)
    • 28 MPH for up to 75 miles
  • Summit 1 e-bike: $1,899 ($1,999)
    • 28 MPH for up to 70 miles
EcoFlow DELTA 2 Max Portable Power Station

EcoFlow flash sale takes up to $1,099 off on-the-go DELTA 2 Max and RIVER 3 Plus power station bundles from $269

As part of its ongoing Game Day Power sale, EcoFlow is offering flash savings for the rest of the day on two power station bundles, with the first being the brand’s DELTA 2 Max Portable Power Station that comes with an 800W alternator charger for $1,399 shipped. Sadly the sale’s sitewide 5% off coupon doesn’t apply to flash sale offers. This package would normally cost you $2,498 in full, with costs dropping lowest back in October when a similar flash sale dropped things to $1,299. Today you can score it at the second-lowest price we have tracked, saving you $1,099 in the process – but it only lasts until tonight so don’t dawdle. This deal is also matching over at Amazon, as well.

A nice middle-ground option for folks needing a backup power solution for trips out of the house while also wanting a reliable means for some home backup in cases of emergency, EcoFlow’s DELTA 2 Max delivers a 2,048Wh LiFePO4 capacity that you can expand further to 6,144Wh with the addition of expansion batteries. Its 2,400W power output (surging to 4,800W) should handle most of your appliance needs through its 15 port options, though you can always activate its X-Boost mode to bump that to 3,400W output for larger ones. It allows for two solar inputs to be hooked up to reach a maximum of 1,000W for recharging, or you can take advantage of its dual-charging capabilities using solar alongside a standard wall outlet for 80% battery in 43 minutes, among the other options. The alternator charger is rated for 1kWh per every 1.3 hours of driving while the station is hooked up to your car – so you can regain a full battery in around 2.6+ hours of travel.

The second offer during this flash sale is the smaller, more personal RIVER 3 Plus Portable Power Station bundled with a 45W solar panel and a protective bag for $269 shipped. It provides a more compact 286Wh LiFePO4 capacity that dishes up to 600W of output power (surging to 1,200W) through its seven port options. Like the above model, there are some extra battery options that can expand the station’s battery capacity to a maximum of 858Wh. Equipped with the brand’s X-Boost and X-Stream tech, you’ll get a full battery from a wall outlet in just one hour, while connecting its maximum 220W solar input gives you the same in 1.5 hours.

Be sure to browse EcoFlow’s full Game Day Power sale while it continues through February 5, with up to $2,999 in initial discounts, 3x EcoCredits on select offers, a 15% accessory discount, and 5% off sitewide savings through the sale’s promo code.

Greenworks 60V 17-inch Cordless Electric Push Lawn Mower

Greenworks’ latest 60V 17-inch cordless electric push lawn mower returns to its $300 low in second-ever discount

Amazon is offering the second-ever chance to save on Greenworks’ new 60V 17-inch Cordless Electric Push Lawn Mower for $299.99 shipped, after clipping the on-page $100 off coupon. This new model of the brand’s affordable mowers starts things at a $400 full price, with only one previous discount on the books, which first brought things to the $300 low a few weeks ago. That same deal is returning today, slashing $100 off the tag and returning the costs to the lowest price we have tracked.

Alongside some of the brand’s pricier mowers, like the CrossoverZ riding model, for example, Greenworks also puts out some solid budget-friendly options for folks. This new 60V push mower is one such option, with the included 4.0Ah battery providing it with a 40-minute runtime for smaller yards (though if you own other batteries, you can certainly cover more ground). The 17-inch lightweight deck comes rust-resistant and lightweight for more effortless maneuverability and control. Equipped with a brushless motor, it features a six-position cutting height adjustment from 1.5 to 3.15 inches while also offering rear bagging and mulching functionality.

Best New Year EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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