SolarCity Corp Offers Tesla Motors Inc Powerwall Battery For $5,000
SolarCity offers Tesla Motors 10 kWh Powerwall for $5,000, installation set to begin from October
SolarCity Corporation (NASDAQ:SCTY) announced on May 01 to offer Tesla Motors Inc’s (NASDAQ:TSLA) newly released solar energy storage home battery unit, Powerwall. The company will be offering Tesla Powerwall, 10 kilowatt per hour (kWh) model, for $5000.In an email sent to Bloomberg, SolarCity representative, Jonathan Bass, confirmed that the company plans to offer the potential customers a choice of two pricing options for the 10kWh model. The pricing options consist of a nine-year lease plan at $5000, or the customers can buy the battery pack for $7,140 flat.
Furthermore, the $5,000 lease plan includes installation, electrical inverter, maintenance agreement, and a control system. According to reports, SolarCity also confirmed that installation will begin in October 2015.
Elon Musk, Chairman of the Board, CEO, and Product Architect at Tesla, on April 30 announced the launch of Tesla’s renewable energy solution, the home battery pack. The company offers the 10kWh model at $3,500, and the 7kWh at $3,000 – excluding installation and maintenance charges.During the highly anticipated launch of Tesla’s newest product, solar energy storage solution, Mr. Musk also introduced the Powerpack – renewable energy storage solution, aimed at commercial customers and the utility sector. This new solar energy solution by Tesla, for commercial purposes, can power large scale companies as well.
The Powerpack is a much larger version of the Powerwall, offering 100 kWh, using Tesla’s “grid tied bi-directional inverters,” which are capable of providing power for up to two hours on a large scale. Powerpacks can be combined with a number of other Powerpacks to up the total capacity to higher than 10 megawatt per hour (MWh).
According to reports, Tesla’s Powepack has already attracted big companies, with the likes of Target Corporation (NYSE:TGT), Wal-Mart Stores, Inc. (NYSE:WMT) and Amazon.com, Inc. (NASDAQ:AMZN). The e-commerce giant, Amazon, is reported to have already employed a beta version of the 100 kWh Powerpack at its Northern California-based Amazon Web Services (AWS) facility.
AWS Engineer, James Hamilton, according to the report, said, “We’ve been working closely with Tesla for the past year to drive innovative applications of high-capacity battery technology in data center applications with the ultimate goal of reducing the technical barriers limiting widespread adoption of renewables in the grid.”
Tesla CEO, Mr. Musk also serves as the Chairman of the Board at SolarCity. Tesla also announced that it will be looking for other distributors in the near future.
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I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go. I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.