Tesla Expands from Electric Cars to Energy Storage for Businesses, Homes

Tesla Motors founder and CEO Elon Musk (Mark Lennihan/AP Photo)
Tesla Motors founder and CEO Elon Musk (Mark Lennihan/AP Photo)
Tesla Motors founder and CEO Elon Musk (Mark Lennihan/AP Photo)

 

(Los Angeles Times) – Having tackled electric cars and solar energy, billionaire Elon Musk now wants to use technology from both industries to jump-start the energy-storage business.

Speaking to a crowd of about 1,000 Tesla fans at the automaker’s design studio in Hawthorne, Musk outlined a vision of homes and business severing themselves from utility-controlled grids.

“We are talking about trying to change the fundamental energy infrastructure of the world,” Musk said as he introduced a line of Tesla Energy home and commercial batteries.

The first product will be a $3,500 Tesla Powerwall, which will store 10 kilowatt-hours, which could supply much of a typical home’s energy needs for 10 hours. It is a rechargeable lithium-ion battery based on the same technology that powers Tesla’s Model S sport sedan.

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