Tesla reveals the latest version of its solar roof, aims for 1,000 installations per week within a few months (TSLA)

Tesla CEO Elon Musk on Friday announced the newest version of the company's solar roof tiles, which he dubbed the "solarglass roof."

This is the third version of Tesla's solar-roof product, and the first one that the company aims to install in large numbers. Musk said on a conference call Friday following the announcement that he hopes to ramp up to 1,000 solar roof installations per week "in the next several months."

The solar glass roof is made with tempered glass; collectively, the product is comprised of both solar and non-solar tiles. Drew Baglino, Tesla's vice president of technology, said the company increased the size and power capacity of the tiles, and also reduced the number of parts.

The estimated cost of a 2,000 square-foot solar roof would be $33,950, according to Tesla, which Musk said should be less than the cost of an "average" roof that has solar panels installed.

Musk commented on version three of the solar roof during Tesla's third-quarter earnings call on Wednesday: "I think this is a great product. Version one and two, we were still sort of figuring things out. Version three I think is finally ready for the big time."

Tesla has had some difficulty executing on some of its solar products in the past, from reported delays, to equipment blamed for roof fires. Tesla's traditional solar panels are the subject of a lawsuit filed by Walmart. The retail giant claims Tesla solar panels caught fire atop of seven US Walmart stores. A judge has ordered Tesla to respond to Walmart regarding that lawsuit by November 8.

Those troubles unfolded after Musk and his colleagues faced scrutiny over Tesla's 2016 acquisition of the energy company SolarCity. The company was founded by Musk's cousins, Lyndon and Peter Rive, which they launched with the help of a $10 million investment from Musk, who also served as chairman.

On Friday, Musk said he envisions a future in which his solar tiles can "make roofs come alive."

"I think, in the future, it will be odd for roofs to not gather energy."

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