NEWPORT BEACH, Calif., May. 7, 2015
Last Thursday Elon Musk was on stage to announce the newest Tesla product: The Tesla Powerwall. This product is designed for the home, business and utility companies. The Tesla Powerwall is a group of batteries which capture energy from the sun and stores it for the future. People will be able to decrease their electricity bills and they will even be able to sell their extra energy to the grid. Kimbal Musk, who is a board member of Tesla, stated that this new technology will decrease electricity bills by 25%.
Technology of Future
Tesla produces high quality and elegant batteries for personal usage. Thanks to this technology, in the near future almost every household will have their own energy resources and energy storage.
Tesla is introducing themselves as an innovation company. This product shows that Tesla is not just producing zero emission glitzy cars. There are two versions of the Tesla Powerwall, there is the 10kWh and 7kWh. Both of these products can be connected to solar and the grid. The 7kWh version is optimized for daily usage and the 10kWh is a backup if the grid goes down.
Both of these are wall-mounted and the Tesla Powerwall contains a rechargeable lithium-ion battery designed for storing electric energy to provide benefits such as:
– Increasing solar energy consumption. Which is helping to store solar energy so people can use it during the night.
– Back-up power if the energy goes down.
– Load Shifting. This allows people to decrease their bills. They can store energy during off peak hours, then use stored energy during peak hours.
The selling prices for the Powerwall are $3,000 for 7kWh version and $3,500 for 10kWh version. These prices do not include the inverter nor the installation costs. The deliveries will begin in late summer.
The specification of these products are:
– Mounting – Wall Mounted Indoor/Outdoor
– Inverter – Pairs with growing list of inverters
– Energy – 7 kWh or 10 kWh
– Continuous Power – 2 kW
– Peak Power – 3.3 kW
– Round Trip Efficiency – >92%
– Operating Temperature Range – 20C (-4F) to 43C (110F)
– Warranty – 10 years
– Dimensions – H: 1300mm W: 860mm D:180mm
Companies such as Texas based Oncor and Southern Calfornia based Edison are supporters of the Tesla project.
Tesla for Business
Tesla Powerwall helps businesses use energy for 100% efficiency and save the extra energy for usage in the future. The energy storage of Tesla is designed to:
– Maximize consumption of on-site clean power
– Avoid peak demand charges
– Buy electricity at its cheapest
– Get paid by utility or intermediate service providers for participating in grid services
– Back up critical business operations in the event of a power outage
According to Tesla, for utility scale systems Tesla Batteries designed to:
– Firm up renewable generation by reconciling the intermittency of power from these sources and storing excess capacity to dispatch when it is needed.
– Increase resource capacity. Tesla Energy for utilities acts as an on-demand distributed power generation, contributing to the overall generating capacity while adding resiliency to the grid.
– Ramp Control. Tesla Energy for utilities can act as a buffer while the power output from a large generation source is ramping up or down, delivering power instantly to smoothly transition output to the required level.
– Improve power quality by preventing fluctuations from propagating to downstream loads.
– Defer costly and time-consuming infrastructure upgrades.
– Manage peak demand by deploying power within seconds or even milliseconds.
Tesla is not the only company in the battery sector, but with joining of Tesla, this market is expected to grow. According to the GTM Research and The Energy Storage Association, earlier in 2014 the market sized $128 million grew 40% last year. The expectation of GTM Research is the market will reach a size $1,5 Billion in 2019.