Tesla’s battery gets $800 million kick off in the first week

| May 9, 2015

Tesla is set to revolutionalise the energy business. According to this Bloomberg report, Tesla has already taken orders for some US$800 million for its home power storage system, Powerwall.

“It’s like crazy off-the-hook,” Musk said during an earnings presentation. “The sheer volume of demand here is just staggering.”

The company is reportedly building a US$ 5 billion factory in Nevada to manufacturing the battery system, which Bloomberg said probably isn’t enough to match demand.

According to Bloomberg’s figures, the residential version of the Powerwall received some 55,000 reservations, with 38,000 orders for an average of 1.5 systems. Reservations for the commercial version of the battery system was at 2,500. With each commercial system consisting of at least 10 powerpacks, that puts the total capacity for the commercial system at 2.5 million kilowatt hours.

It’s small compared to the overall US energy consumption of over 3.8 trillion kWhs, but it’s a start. With batteries, particularly if they are paired with roof-top solar panels, residents and even corporations will now be able to be literally energy independent.

Source: Tesla’s Battery Grabbed $800 Million in Its First Week – Bloomberg Business

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Category: Global energy, Green ICT, Renewables, Smart grids, Wires

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