Tesla Announces New Renewable Energy Storage System for the Home

Tesla’s  founder and CEO, Elon Musk, has changed the way we make online payments, the way we travel to outer space and the way we power our cars. But now Tesla is out to change much more than that, thanks to their recently announced home battery system, the Powerwall, Tesla is set to change the way we power our homes.

For those wishing to embrace a home that produces its own clean energy, the challenges are plentiful. What will you do with the excess energy? What if we have a lot of cloudy days? With no efficient storage system for the excess energy created during the peak sun hours, we may not be taking full advantage of this wonderful energy source. In fact, at times we may find ourselves switching back to the power grid where the demand put upon utility companies only leads to an increase in carbon emissions. This becomes a problem particularly during peak energy usage hours like the morning or evening. So what is Tesla’s solution?

Tesla’s Powerwall offers a more cost effective solution when compared to the very few renewable energy storage systems available for home use. The Powerwall balances energy from both home solar panels and energy from the traditional grid. It charges during times when energy demand from the grid is lower, and therefore rates are lower. When rates are higher as the demand increases during those peak hours, the battery feeds your home the stored energy as opposed to the energy from the grid. Of course, for those with solar panels installed the entire system becomes even less connected to the grid and stores energy throughout the day and for use when the sun goes down.

Experts in the field anticipated that Tesla’s Powerwall would come with a hefty price, but Musk surprised the audience during his announcement of a much lower price point which may attract green-homeowners. As opposed to the $10,000 or more price point expected, the Powerwall will cost between $3,000 to $3,500.