Tesla wants to power your home with a battery

[n2doc]

Tesla will introduce a battery for your home during its highly anticipated April 30 event.
In a letter sent to investors and analysts on Tuesday, the electric car company said it will announce a "home battery" and a "very large utility scale battery." Similar products already exist on the market, but Tesla said it will explain why its batteries are better than competitors' solutions at the event. CEO Elon Musk thinks rivals' batteries "suck," according to the note from Jeff Evanson, Tesla's investor relations director.

Tesla (TSLA) shares rose more than 5% Wednesday on the news.

Home batteries power up overnight, when energy companies typically charge less for electricity. Then, they can be turned on during the day to power a home. Though home batteries cost thousands of dollars, many utility companies will offer rebates.

Musk announced the event late last month on Twitter, only hinting then that the new product is not a new electric car. The event will be held at Tesla's Hawthorne, California, Design Studio on April 30 at 8 p.m. PT.

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http://money.cnn.com/2015/04/22/technology/tesla-home-battery/index.html?iid=TL_Popular

[Erich Bloodaxe BSN]

1. That would work nicely with utility programs designed to limit the power you draw

during peak times, by allowing you to still use power when you need it, even if that's during peak times.

[jeff47]

2. Reeeeealy looking forward to these kinds of developments

Our house has a nice, unobstructed, south-facing roof just begging for solar panels. And a battery pack would compliment that oh so nicely.

Just need to raise the money to do it. Developments like this will hopefully cut down the cost, making it easier.

[Gothmog]

3. This battery combined with solar power could be a game changer

[kristopher]

4. And so they shall... nt

[Gregorian]

5. I had been thinking of getting one from a salvaged Tesla

in the event that I ended up with a property off the grid. Somehow that hasn't happened yet. But now it looks like the future could be at least not lead acid. It's the beginning of an interesting world future. I wonder.

[NYC_SKP]

6. Utility companies would love this, especially in California. Shifts demand, saves money, greener.

Customers can charge up when rates are low, run on the battery while rates are high.

And this would help utility companies meet their Renewable Portfolio Standard.

They charge more to discourage use at peak hours because they have to use dirtier and more expensive sources to meet demand.

They would love to have less pressure, lower demand during peak.

This is a win win win!