Elon Musk isn't content to just power automobiles with batteries. The billionaire entrepreneur wants you to power your home using a battery from Tesla Motors Inc.
In an email to investors, Tesla announced it will announce a home battery and a utility-scale battery at its event on April 30. Bloomberg Business reported the company will explain the advantages of its solutions and why "past battery options were not compelling."
At the end of last month, Musk, who is the CEO of Tesla, tweeted that the company would unveil a major new product line on April 30, and it wouldn't be a car.
The advantage of powering a home using a battery over traditional distribution methods is that the batteries can charge during the night time, when demand for power, and therefore rates, are lower. The home would then run off the battery during the day time.
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In an email to investors, Tesla announced it will announce a home battery and a utility-scale battery at its event on April 30. Bloomberg Business reported the company will explain the advantages of its solutions and why "past battery options were not compelling."
At the end of last month, Musk, who is the CEO of Tesla, tweeted that the company would unveil a major new product line on April 30, and it wouldn't be a car.
The advantage of powering a home using a battery over traditional distribution methods is that the batteries can charge during the night time, when demand for power, and therefore rates, are lower. The home would then run off the battery during the day time.
Continue reading…
Continue reading...