Tesla Plans Battery for houses or businesses Energy-Storage Market.( Bloomberg)
Tesla Motors Inc., best known for making the all-electric Model S sedan, is using its lithium-ion battery technology to position itself as a frontrunner in the emerging energy-storage market that supplements and may ultimately threaten the traditional electric grid.
“We are going to unveil the Tesla home battery, the consumer battery that would be for use in people’s houses or businesses fairly soon,” Chief Executive Officer Elon Musk said during an earnings conference call with analysts Wednesday.
Combining solar panels with large, efficient batteries could allow some homeowners to avoid buying electricity from utilities. Morgan Stanley said last year that Tesla’s energy-storage product could be “disruptive” in the U.S. and in Europe as customers seek to avoid utility fees by going “off-grid.” Musk said the product unveiling would occur within the next month or two.
“We have the design done, and it should start going into production in about six months or so,” Musk said. “It’s really great.” Hmmm.....I'm certain lot's of people in Canada and the U.S. will jump on it if the price is right and durable storage. Read the full story here. More here.
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