Tesla Motors (TSLA US) is entering new markets beyond electric cars. The CEO Elon Musk announced on Wednesday that the company is starting delivering so called Powerwalls, which enable homes to store for example solar energy to be used during the peak hours. Tesla says that this is a new innovation with easy to use and install and the battery itself is well designed and offer different colors. The deliveries of this lithium-ion batteries will start late summer this year and the walls are 7 kWh or 10 kWh priced 3500 dollars.
According to Musk the goal is to fundamentally change the way the world uses energy. “We are talking at the terawatt scale. The goal is complete transformation of the entire energy infrastructure of the world” , he said in the launching event.
Tesla is also making so called PowerPack solutions for corporations and utilities. So far the power industry has lacked a cost-effective solution for energy storage and this issue is growing all the time, while there is growing amount of solar and wind energy to be integrated into the grid. Tesla is building its own gigawatfactory and has also several co-operations agreements with local utilities and industries.
Tesla share closed to 226,03 dollars in Nasdaq New York.