For decades now, scientists have been searching for ways to utilize clean energy and become less reliant on fossil fuels. Elon Musk believes he’s cracked the code with his latest product, the Tesla Powerwall battery.
Last week, in typical Musk fashion, he dazzled the world as he painted a picture of a future where we could take our home or business off the grid completely and rely on solar panels and a dedicated battery to store the energy it captures.
The Powerwall home battery charges using electricity generated from solar panels, or when utility rates are low, and powers your home in the evening. It also fortifies your home against power outages by providing a backup electricity supply. A 7kWh battery costs $3000, and a 10kWh battery costs $3500 (plus installation).
Trying to figure out the costs savings achieved with the Powerwall is more than a little complicated (Forbes has a comprehensive article that breaks down the economics of it), costs look to be comparable to fossil fuels. And of course, as more people adopt the Powerwall, it should drive prices down even further.
While Musk’s aspirations of taking down big energy might seem a little ambitious, he’s no stranger to taking on the impossibile (like building an electric car company) and proving everyone wrong. If anyone can make this work, we believe it’s him.
What do you think of the Tesla Powerwall?