TESLA TO PROVIDE BATTERIES DIRECT TO HOMES AND BUSINESSES

Will Tesla’s Powerwall Sound the Death Knell for nuclear Energy?

Tesla has made the widely anticipated move into batteries for homes and businesses to broaden its base beyond its vehicle business. Tesla’s internationally-renowned CEO, Elon Musk made the announcement last week that the company would produce batteries that store solar energy and could act as a back-up system during blackouts. Tesla expects to start shipping the units to installers in the US as soon as this summer. Mr. Musk believes this move could help revolutionize the “entire energy infrastructure of the world.”

The lithium-ion based storage unit will be produced using the same batteries that power Tesla’s electric cars. The system known as Powerwall will be sold as a 7kWh unit, costing $3,000 (€2,680) and a 10kWh unit retailling at $3,500 (€3,126). It is estimated that one kWh can power the use of a laptop for two days or a full washing machine cycle. Certain commentators believe that this new venture by Tesla will be the first nail in the coffin for nuclear energy as the Powerwall units will allow solar and wind to store energy for off-peak use and therefore compete directly with nuclear on price.