Thursday, April 30, 2015

New Tesla Battery Could End Electricity Bills



Tesla Motors may be close to eliminating the electric bill, at least for some consumers.

Company CEO Elon Musk is expected on Thursday to unveil batteries capable of powering a home or a business, giving consumers with solar panels a chance to generate and store their own energy, and to potentially cut the cord with traditional power providers.

Musk – also chairman of clean energy company SolarCity – revealed his plans in a recent earnings call, letting slip that his company will “unveil the Tesla home battery … that will be for use in people’s houses or businesses, fairly soon.”

Could Apple Compete With Tesla?

The battery is expected to employ the lithium-ion technology used in Tesla's Model S vehicles and be able to store energy for buildings to use during an emergency power outage. But it would still need to draw energy from an outside source – making owners of solar panels a target audience.

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