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Tesla Reveals Powerwall Energy Storage System

Base home system to start at $3,500.

by on May.01, 2015

A Powerwall system alongside a Tesla Model S.

Already providing a shock to the auto industry, entrepreneur Elon Musk is now hoping to transform the electric utility world. The billionaire founder of Tesla Motors added a new line of business Thursday night, confirming widespread rumors that the electric carmaker would add a line of residential and business battery backup systems.

Power Up!

In typical fashion, Musk declared the Powerwall system more than just the sort of technology that could keep a computer or TV running in the event of a power outage. Rather, he insisted during an evening news conference, that the system was another step in the goal of saving the environment by moving away from fossil fuels.

“This is within the power of humanity to do,” Musk proclaimed during a media briefing at Tesla’s design center in the Los Angeles suburb of Hawthorne. “We have done things like this before. It is not impossible.”

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Tesla Expected to Add New Product Line Tonight

Maker plans big announcement; expected to get into stationary battery business.

by on Apr.30, 2015

Getting into stationary power would provide a major new business opportunity for the Tesla Gigafactory shown in this rendering.

While it isn’t walking away from the electric vehicle market, California’s Tesla Motors is expected to announce a new line of business this evening during a splashy news conference starring its media-savvy CEO Elon Musk.

Tesla reportedly will reveal it is entering the market for stationary batteries that can provide backup power for home, office and industrial applications. The anticipated announcement has been tempting analysts and investors, the maker’s stock price on a sharp rise in recent weeks. The move could help ensure the viability of the $5 billion Gigafactory battery plant Tesla is setting up in Nevada, even if its electric vehicle sales don’t meet growth expectations.

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Plug In Now!

Less than coincidentally, Musk also serves as chairman of Solar City, another start-up that provides stationary battery units to back up its solar power systems.

The topic of tonight’s news conference hasn’t been a particularly close-kept secret. On March 30, Musk tweeted that the carmaker would have news of a “major new Tesla product line – not a car.”

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