Tesla, Panasonic Strengthen Ties to Create Innovative Solar Cells, Modules

Tesla is not falling behind SpaceX advancements, as CEO and founder Elon Musk announced a strengthened partnership between his company Tesla and Panasonic to create innovative solar cells and modules.

The collaboration between Tesla and Japanese company Panasonic signaled a stronger affiliation between the two companies. Tesla and Panasonic will develop solar cells including modules in the U.S., specifically in New York.

Based on their agreement, Tesla will be using the cells and modules for its solar power system. The system is said to work perfectly with Tesla's power storage and renewable energy line of products such as the Powerwall, according to Fortune.

In Tesla's "Master Plan Part 2" Elon Musk specifically announced his intent to make solar roofs that are more affordable and easier to mount in everyone's abode. This technology might also use the new and innovative solar cells and modules that will be the product of Tesla and Panasonic's renewed affiliation.

Read: Elon Musk's Solar Roof On the Spotlight

Panasonic and Tesla have a long-standing relationship as the Japanese company has been supplying Musk with batteries for its electric car, Tesla Model 3. By 2017, the battery maker will start producing the solar cells and modules at a facility in Buffalo. And like the batteries for Tesla Model X, Musk's company is expected to maintain a long-term relationship with Panasonic in terms of purchasing solar cells and modules.

Panasonic will create "photovoltaic" cells and modules. The modules will be used to charge Tesla's innovative home energy systems Powerwall and Powerpak. "We are excited to expand our partnership with Panasonic as we move towards a combined Tesla and SolarCity," JB Straubel, Tesla's chief technical officer said in a statement. "By working together on solar, we will be able to accelerate production of high-efficiency, extremely reliable solar cells and modules at the best cost."

Tesla aims to make "fully-integrated" energy products not only for businesses but also for homes and other functions in line with its dream of a widely used sustainable and green energy source in the future.