Elon Musk; better known as the billionaire entrepreneur, inventor and most recently the Twitter tease that caused Tesla’s (TSLA
) stocks to go up by 5%. In March, he tweeted a gripping post saying, “Major new Tesla product line
-- not a car -- will be unveiled at our Hawthorne Design Studio on Thurs 8pm, April 30th 2015. This post not only caused a fluttering of perplexity over the World Wide Web, but it did some good to their stocks- it rose an instant 3% at a $190 per share and the following weeks it jumped to 5%. During the rise of the stocks Elon Musk stated, “We are going to unveil the Tesla home and commercial battery". This statement was most certainly and ear raise for anyone interested in all things "green". The idea of Tesla making batteries to power homes and business alike seems to be out of order considering the company has thus far been exclusively described as a car company. The California-based company manufactures the world’s well known fully electric cars like the Model S and Tesla Roadster, which so happens to be the first highway-capable- all electric vehicle.
Even though, similar products currently exist in the market CEO of Tesla; Elon Musk criticizes them as being inferior and not efficient when compared to the Tesla’s new home and commercial scale battery. The battery has been offered and implemented for some SolarCity customers, a solar power company that Musk is the Chairman for. Cargill food processing plants have also signed on and currently 11 Wal-Marts, 330 homes, and many other notable businesses and corporations have been running on it with the pilot project in California. The battery-based energy will charge overnight when utility companies typically charge less for electricity. In the mornings, the battery will turn on demand providing you with electricity at a time when it is in optimal use. This is not only environmentally friendly but costs effective over time. Speaking of costs, the electric powered battery will cost around $13,000 for homes, and even though that may seem to break the bank for the average household the good news is, California's Pacific Gas and Electric Co.(PCG) will offer customers a 50% rebate for making the switch. Homeowners are not the only ones who will reap the rewards. Tesla is expected to gain as much as $65 million from the Self-Generation Incentive Program (SGICP) which provides an incentive to existing, emerging, or new energy resources provided by qualifying technological companies.
It seems that with the emergence of renewable energy, the electric utility companies have to worry about competing for business and inevitably losing the battle. I think it just makes more sense to use resources that are not only environmentally friendly but also cost effective. Tesla has immense influence in the energy producing industry and the automotive industry. Tesla is thus creating the most buzz and excitement for this strategy. With that, it’s safe to say that Tesla is not only an automotive company but rather an energy provider.
Could this be the bright future that we so badly need? Would you power your business and home with Tesla’s new home battery?
More will be revealed at the Hawthorne Design Studio on Thurs 8pm, April 30th.