Tesla Is Making Their Home Battery Much Better With No Price Increase

Tesla Motors is hedging their bets in the business world analyst Stephen Murray CCMP Capital reports. They are primarily known for their electric cars. Their Model S is fairly expensive, but they are working on a more affordable model to come out next year. They are also expanding by taking batteries beyond just cars. They recently announced a battery for use in solar-powered homes, and they already have over 38,000 pre-orders for it when production and deliveries begin early next year.

Solar power is growing by leaps and bounds in just the past couple years. It represents a sizable chunk of new power plant construction, and solar panel installations on home rooftops has taken off. Out of 645,000 U.S. homes and businesses equipped with solar power, 195,000 of those installations were just done last year. The only problem is that an energy storage device is needed so that homes can continue to have power at night. This is where the home battery known as Powerwall from Tesla comes into the picture. It stores energy that is unused during the day, so it can be used at night. Despite the impressive number of pre-orders for the new battery, there was one problem with it. The less expensive $3,000 version only had 2 kilowatts of energy output. This is not enough for most homes. Tesla just announced that they have doubled the capacity of this and their more expensive battery model without raising the price of either. This should have them moving out the door in record numbers.

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