It’s official, yesterday evening Tesla founder Elon Musk announced that Tesla is getting into the energy business, and like most things Elon does, they’re going big. The move isn’t a complete diversion from what Tesla Motors currently does given that batteries are a huge part of their current business. Now Tesla is looking at using their battery technology to power homes and businesses.
“With Tesla Energy, Tesla is amplifying its efforts to accelerate the move away from fossil fuels to a sustainable energy future with Tesla batteries, enabling homes, business, and utilities to store sustainable and renewable energy to manage power demand, provide backup power and increase grid resilience.” (Source – Tesla Motors)
Over the last year Tesla has been putting an increased focus on how and where they build their batteries. Initially this move looked like a way to prepare for an increase in Tesla car sales, now it’s clear there was a combined strategy here. The new battery will come in two flavors to start, one model used as a backup and another available for continuous use:
“The Powerwall is available in 10kWh, optimized for backup applications or 7kWh optimized for daily use applications. Both can be connected with solar or grid and both can provide backup power. The 10kWh Powerwall is optimized to provide backup when the grid goes down, providing power for your home when you need it most. When paired with solar power, the 7kWh Powerwall can be used in daily cycling to extend the environmental and cost benefits of solar into the night when sunlight is unavailable.” (Source – Tesla Motors)
I think this is a very exciting move for Tesla and one that makes a lot of sense given the innovations they are making in the battery space. One fun fact that also might surprise you is that Tesla is yet to buy Tesla.com, however as I’ve said many times before, the days of needing to own the exact-match .COM of your name are quickly fading. Congrats to Tesla on this move, another huge innovation and one that will likely change the world forever. Oh, and I want one!