Elon Musk will do up your roof on the cheap (sort of)

Tesla CEO Elon Musk must have heaved a sigh of relief considering that a number of shareholders had filed lawsuits against the merger believing it was not in the best interest of the company. However, Tesla is bullish on SolarCity’s future, and reportedly projects that SolarCity will add a cool $500 million to the company’s bottom line between now and 2020.

Image: Tesla shareholders approve SolarCity acquisition deal.

We’ll see in the coming year if Musk is correct on his prediction of SolarCity’s profitability. Elon Musk is Tesla’s chief executive officer, and because he is also a chairman and shareholder in both companies, he did not vote. But the added benefit of Tesla’s solar roof is that while they provide almost the same energy benefits of typical solar panel installations on homes, they also happen to look like contemporary roofs with Textured Glass, Slate Glass, Tuscan Glass, and Smooth Glass styles.

It’s official: After Tesla shareholders approved the acquisition of SolarCity, the new company is now an unequivocal sun-to-vehicle energy firm. Musk and two other Tesla directors who sit on SolarCity’s board are recusing themselves from the vote, but that hasn’t stopped some shareholders from suing. Musk said that as most cars switch to electric power, electricity production will need to increase to a point where about one third comes from solar panels and the remaining two thirds from traditional utilities. The companies showed what their combined powers can do with the release of solar-powered roof tiles earlier this month.

When Musk first unveiled the tiles on October 28, the pricing details were murkier.

Last month, Tesla posted its first profitable quarter in more than three years and said it may do the same next quarter.

85% of the shareholders voted in favour of accepting the merger, which caused a 2.5% rise in Tesla shares in after-hours trading in NY. SolarCity stock closed at $20.40 a share, up 2.9 percent. The Wall Street Journal wrote this morning that a slashing of federal tax credits for electric vehicles and solar panels could occur under a Trump Administration, effectively slowing demand.

Analysts surveyed by FactSet estimate that SolarCity is on track to report $711 million in revenue in 2016.