Earlier this week we heard that Elon Musk’s electric car company, Tesla, would soon be unveiling new battery technology designed with the home and businesses in mind, and now it’s done so. The idea behind the new tech, is to reduce dependence on the grid, allow for the local storage of solar energy and offer a back up system should blackouts occur.
Called Powerwall, the battery back up system comes in two flavours, the 7kwh unit, which will cost $3,000 (£1,950), or 10khw, which will set installers back $3,500. Although somewhat expensive, if you’re in the US, the cost can be shared with Musk’s other investment, SolarCity, though the alternative energy company will want the battery back after 10 years of operation.
It’s hoped that the new lithium-ion battery pods, which are said to come in a variety of colour casings chosen by the buyer, will allow for those with solar panels and other green energy sources, to save the electricity they generate if it exceeds usage, and then utilise that energy at night where solar power isn’t being generated. Even if that doesn’t happen however, the batteries can be charged up overnight, when electricity is cheaper and there is less strain on the national grid. It can then be used the next day without extra cost.
Although Tesla faces stiff competition from other battery firms like General Electric and LG Chem, some analysts believe that the home and business battery market could be worth upwards of $4.5 billion, according to the BBC.
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KitGuru Says: I don’t own my own home, so I don’t think tech like this is in my near-future, but it is something I’d consider. I’d probably grab some solar panels first though. What about you guys?