Tesla Unveils Solar-powered Batteries For Homes, Businesses

(RTTNews) - US automotive company Tesla Motors has unveiled a suite of batteries for homes, businesses and utilities that store solar energy and serve as a back-up system for consumers during blackouts.

Chief executive Elon Musk, announcing the launch of Tesla Energy batteries Thursday, said it is a critical step to enable zero emission power generation, as the company attempts to expand beyond its vehicle business, fostering a clean energy ecosystem and helping wean the world off fossil fuels.

He said Tesla would partner with SolarCity to install the home batteries in late Summer.

The company is already working with utilities and other renewable power partners around the world to deploy storage on the grid to improve resiliency and cleanliness of the grid as a whole.

The system comes to the market under the brand-name Powerwall, offering independence from the utility grid and the security of an emergency backup.

Power companies often charge a higher price for electricity during peak evening hours than overnight when demand is low. Powerwall can reduce the power bill by storing electricity when rates are low and powering buildings when rates are high.

Powerwall automatically switches to battery power in the event of an electric company outage, typically useful for those who live in areas prone to storms or unreliable utility grids.

The Powerwall is available in 10kWh weekly cycle model, optimized for backup applications, at a price of $3500, and in 7kWh daily cycle models, optimized for daily use applications, costing $3000.

Both are guaranteed for ten years.

The Tesla Powerwall is a rechargeable lithium-ion battery designed to store energy at a residential level for load shifting, backup power and self-consumption of solar power generation.

It is estimated that the world currently consumes 20 trillion kWh of energy annually. One third of the fossil fuel consumed in the United States is for electricity production. The US electric power sector alone emits over 2,000 million metric tons of CO2.

Once able to rely on renewable energy sources for power consumption, the top 50 percent of the dirtiest power generation resources could retire early, leading to a cleaner, smaller, and more resilient energy grid.