Tesla (NASDAQ: TSLA) and Brookfield Asset Management (NYSE: BAM) have been early leaders in spearheading the effort to transition the global economy towards more sustainable renewable energy sources. They're now taking their expertise to the housing market by launching what will be the nation's most sustainable residential community in Austin. The new community will feature Tesla's solar roof tiles, Powerwall battery storage, and other sustainable features.
The partners aim to create a blueprint for designing and constructing large-scale sustainable housing projects in the future. Because of that, it could have significant implications for the future of homebuilding.
Welcome to the SunHouse
Tesla, Brookfield, and real estate developer Dacra are joining forces on a new initiative called SunHouse at Easton Park, a master-planned community (MPC) near Austin. Each partner will play an essential role in the development.
Developed on land in Brookfield Residential's Easton Park MPC, homes in SunPark will feature Tesla Energy's V3 solar roof tiles and Powerwall 2 battery storage systems. Meanwhile, Brookfield's renewable power business will integrate a community-wide solar program to support public use needs in SunHouse and surrounding neighborhoods. In addition, Brookfield Residential will install a suite of technology features in each home and throughout the community, including electric vehicle charging stations. Finally, Dacra brings its unique development expertise to the project, which has included developing South Beach's Art Deco District and Lincoln Road.
Learning along the way
The partners plan to take a phased approach to develop SunHouse. That will allow them to learn along the way and optimize future developments. The first phase of installing solar roof tiles and Powerwall battery storage systems began in June on some of the homes under construction. That will provide the partners with insight and information on the best way to integrate the products, which will guide the next phase of even more homes. The overall goal is to build an energy-neutral, sustainable community that will serve as a model for large-scale homebuilding projects in the future.
Tesla's CEO Elon Musk commented on the partnership: