Tesla unveils batteries to power homes

[nitpicker]

http://www.bbc.com/news/technology-32545081

Tesla unveils batteries to power homes

4 hours ago

US electric carmaker Tesla Motors has unveiled batteries that can power homes and businesses as it attempts to expand beyond its vehicle business.

Chief executive Elon Musk announced the firm would build batteries that store solar energy and serve as a back-up system for consumers during blackouts. The device would allow consumers to get off a power grid or bring energy to remote areas that are not on a grid. Tesla plans to start shipping the units to installers in the US by this summer.
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The rechargeable lithium-ion battery unit would be built using the same batteries Tesla produces for its electric vehicles, analysts said.

The system is called Powerwall, and Tesla will sell the 7kWh unit for $3,000 (£1,954), while the 10kWh unit will retail for $3,500 (£2,275) to installers. Energy comparison firm USwitch estimates that one kWh can power two days of work on a laptop, a full washing machine cycle or be used to boil a kettle 10 times.

Mr Musk said the company would partner with SolarCity to install the home batteries, but there would be more companies announced.

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The business strategy is a bit like the battery itself: high impact, but a slow release which will really only reap significant benefits over time. But it comes with risks. Tesla may face a challenge getting the cost-saving message across to potential customers, especially with a significant $3,500 upfront cost.

The carmaker also faces competition from battery-storage technology rivals with deep pockets such as GE (General Electric) and South Korea's top chemical company, LG Chem. There is also a danger that this particular lithium ion battery could be superseded within a few years by other technology, like hydrogen fuel cells, which Tesla is not equipped to make.
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[NaturalHigh]

1. Awesome. I expect these to become cheaper and more popular soon.