Tesla will be introducing a home battery in an event that will be held in Tesla’s Hawthorne, California on April 30 at 8p.m. An electric car company sent a letter to the investors and analysts that it will soon announce a home battery that is of great utility. However, similar products are also in the market but Tesla explains that its batteries are better than all its competitor’s. The shares of the Tesla have risen by 5% recently.
The home battery gets charged overnight and consumes a much lesser electricity. Users can turn the battery on during daytime for charging. The cost of the home batteries is in thousands of dollars and many companies also offers rebate. The product is not a new electric car but is something even better. Musk has announced release of the Tesla Battery very soon. The Tesla’s Stationery Energy Storage Director, Arch Padmanabhan, displayed some of the plans of the Company like 10 kwh residential battery and a 400 kwh commercial battery that can be used for large buildings. Tesla had discussed about its residential and commercial batteries last year only.
Tesla has already begun serving SolarCity, a solar power company, with home batteries. According to the Company analyst, Trip Chowdhary said that Tesla provides service to about 330 U.S. households and a majority of them are located in California. Its starting price will be $13,000 with 50% rebate. The battery has a height of about 3 ft high and 2.5 ft wide.