Tesla Motors Inc. has announced its next big thing, a home battery.
The Powerwall charges using electricity generated from solar panels, or when utility rates are low, and powers your home in the evening. It also protects your home against power outages by providing a backup electricity supply.
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Powerwall is automated, compact and offers independence from the utility grid and the security of an emergency backup. It comes in 10 kWh weekly cycle and 7 kWh daily cycle models. Both are guaranteed for ten years and can power most homes during peak evening hours. Multiple batteries can be installed together for homes with greater energy needs.
10 kWh $3,500, for backup applications
7 kWh $3,000, for daily cycle applications
Rumors started swirling about the battery’s announcement when Tesla’s chief executive officer, Elon Musk, posted on Twitter the company would announce a major new product line—not a vehicle—on April 30. The home battery was unveiled at Tesla’s California-based Hawthorne Design Studio.
Tesla has already built a partnership with SolarCity, which has been testing the battery storage technology at 300 solar-paneled homes. It is unclear, at this point, how much the Tesla batteries would cost.