I cannot imagine that working with Elon Musk is every boring. Working as lawyers we have the great privilege of getting to sit alongside and advise great business leaders every day. Not everyone enjoys the fame and notoriety of Mr Musk but as an advisor he presents new challenges at every turn. Driverless cars can crash - and drivers die. Buildings need power and the sun does not always shine. His latest plan, for solar roofs on our houses seems like a "why didn't we do it before" notion but it will come with challenges for his advisors. Our developer clients are continuously looking at ways of upselling their developments and electric car points, passive level BER ratings and dedicated plant rooms are just some of the new-fangled notions we have seen in residential plans over the last few months.
As lawyers we are excited by the challenges our clients present. Often we are being asked to interpret rules and legislation and see how our clients business can comply with them. With a client like Elon Musk, there are very few rules. He is trying to write his own. We will see the Powerwall or similar domestic batteries in Ireland in the next few years. New US technologies like NEST are now in Irish houses- two years after the US. That is our lag time. Keep an eye on Musk and his plans. He is a controversial dreamer and a futurist but what he says makes sense. It just might take a little longer than he plans to come into being.
Musk is positioning himself at the heart of this post-carbon solar-powered future. Last year his market leading EV manufacturer Tesla began producing the ‘Powerwall,’ a stationary battery system for homes and commercial buildings. Now, through the new deal, Musk says he is building the world’s “first vertically integrated sustainable energy conglomerate.” The deal brought criticism from Wall Street analysts, who have traditionally supported Musk’s ventures, worried that it would distract the companies at a critical time for both. Tesla is struggling to overcome a wave of production issues as it ramps up car production, while SolarCity recently tempered its growth forecasts for the third time in seven months, following a sharp slowdown in new orders.