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

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)

 

(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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