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And now for something positive...

  1. Narla

    605 Posts.

    Elon Musk has unveiled Tesla's latest project: a lithium-ion home battery.
    During an earnings conference call with analysts Wednesday, Musk said that he's using Tesla's lithium-ion technology used in Model S sedan vehicles to produce an energy-storage product.
    "We are going to unveil the Tesla home battery, the consumer battery that would be for use in people's houses or businesses fairly soon," Musk said. "We have the design done, and it should start going into production in about six months or so. It's really great."
    The new battery would place Tesla as a frontrunner in the energy-storage market. The investment firm Morgan Stanley said last year that energy storage market could potentially be disruptive in the U.S. and in Europe since customers would avoid paying electricity utility fees, reported Bloomberg.
    However, the energy-storage market is something that utility companies are interested in.
    "A lot of utilities are working in this space and we are talking to almost all of them," said JB Straubel, Tesla's chief technology officer during the same earnings call. "This is a business that is gaining an increasing amount of our attention."
    Tesla already offers energy-storage units to select homeowners and businesses through SolarCity Corp., which is a solar-power company chaired by Musk. Tesla also has installed a storage unit at its Tejon Ranch Supercharger station in Lebec, California.


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