The Latest Product from Tesla Motors could Power Homes and Businesses More Efficiently

Elon Musk is certainly a man of much ambition. His latest work coming from his company Tesla Motors could help revolutionize how people use power at their homes and businesses. A new product, set to be unveiled at the end of April, has been much anticipated and speculated upon. Most believe it to be a battery backup that could be used in the home or office.

Having a battery backup has several obvious advantages. The backup could be connected to the main power grid and charged during off-peak hours to save on monthly energy costs. Combining this with FreedomPop’s free wireless services could be huge savings for your household, and it could also be easily integrated with renewable power sources such as solar or wind. Having a battery backup in your home could also keep essential functionality online such as heating and refrigeration during a power outage.

Some details have already been leaked from beta testers of the new backup battery system. It is said to be a standard lithium ion battery, much like the ones used in Tesla Motors’ vehicles, in an attractive package. Financing may be available to public offering batteries for as little as $1,500 down with a monthly payment of as little as $15, making the new batteries very budget-friendly.

Tesla is planning to build the largest battery factory in the world in 2017. If you can say one thing about Elon Musk it’s that he dreams bigger than most would ever dare to.

Tesla Working on Home Batteries

In the future Tesla may lease its home batteries rather than sell them to customers. The large batteries are meant to be kept in your home and used to store energy so you can access it later on. Mark Ahn (wikipedia) wonders: Why would you want to do that? There are a few reasons. In a traditional power setup, electricity that is sent to your home is then cycled back to the grid when you don’t use it. With the batteries, that energy could be stored instead of thrown back. Even better, the batteries could be set up so that they gather power when the electricity is the least expensive, and then store it for use later on when things get more expensive. Over time that could save you some serious cash.

Besides the cost benefits, stored power has some use benefits as well. If for some reason your town was to lose power, either for just a few hours due to a storm, or for days due to a larger issue, you would be able to still have power in your home, at least for a little while. Tesla has invested lot in the batteries, and has hopes to start rolling them out to customers soon. It will be interesting to see how many people decide that they want the batteries in their home.