Tesla Ventures into Solar Panel-Connected Batteries for Homes
Last week, billionaire entrepreneur and Tesla Motors CEO Elon Musk unveiled at the Tesla's design studio, his yet another ambitious mission of solar panel-connected batteries for homes and businesses.
Elon Musk, stated, "Our goal here is to fundamentally change the way the world uses energy". The long-term goal is to create regional networks of home batteries in order to reduce the reliance on fossil fuels to generate energy.
Musk enthusiastically claimed that Tesla and other future entrants in the market will be able to sell 2 billion battery packs around the world. The 'Powerwall' batteries would be used in conjunction with solar panels, so that they can be recharged during the day.
Southern California Edison is already using Tesla batteries to store energy. Also, Amazon. com and Target are planning to use Tesla's battery storage system on a limited basis.
However, the battery might be too expensive for most consumers, priced about $3,000 to $3,500, depending on the desired capacity and the installation costs will be extra. This may discourage widespread adoption of these batteries.
David Cunningham, an aerospace engineer from Foster City, California has test run these batteries, as part of a pilot program of California Public Utilities Commission to test the performance of home battery. David installed a Tesla battery last year and paired it with his solar panels.
Tesla will partner with SolarCity, a solar installer founded by Musk's cousins, Lyndon and Peter Rive. Tesla will begin to ship the Powerwall batteries in the US, this summer, and then expand it internationally next year.
Adam Jonas, analyst at Morgan Stanley, noted that the home battery idea has as much power to turn the energy business on its head, as Tesla's long-range battery powered car has taken Detroit by storm.
Nothing seems beyond the bounds of possibility for Musk, who also runs Space X with a goal of colonizing Mars.