Tesla’s New Venture — Home Batteries?
Tesla CEO Elon Musk tweeted today “Major new Tesla product line — not a car — will be unveiled at our Hawthorne Design Studio on Thurs 8pm, April 30″ and these few simple words have sent the media into a tizzy. What will it be? What does the mad genius have up his sleeve? Apparently, according to many outlets and this article, Musk & Co. are working on a home battery solution that can power all of your home electricity needs for a set period of time–all the while interfacing with SolarCity’s (of which Musk is Chairman) solar solutions to provide “free” electricity in perpetuity. I think it’s a great idea that offers a definitive value proposition. If they can get the launch right, and the cost low, I think it’ll reach many millions of households over the next decade. I think this home solution aims to disrupt the “commodity” status that power delivery companies have fallen into, and I can see this spurring some much needed innovation in the marketplace. What ramifications do you think this will have on power companies and their strategy moving forward? Do you see companies like PECO partnering with Tesla to provide these packs as a supplement rather than a “whole home” solution?