Elon Musk has made headlines over the last few years with high-end, electric Tesla (TSLA) car models. The Roadster and S models come fully equipped with touch-screen center console panels, luxury interiors, and sports performance and acceleration. Stock prices have seen spikes and drops in recent years, but they have remained generally high as the company has built out a network of charging stations and begun constructing its own $5 billion battery factory. The factory will not only produce lithium ion batteries for use in Tesla’s current and future models of cars, but also large capacity batteries for home power use.
The cost of independence
The batteries would ideally store energy harvested from solar or wind power generators for use throughout the day and night. For many, the first question concerning the battery is its price tag. The Tesla Powerwall batteries are being developed in two models: a 7 kWh for $3000 and a 10 kWh for $3500. With electrical utilities costing anywhere between $74 and $200 per month depending on the region, investing in a Powerwall unit could take anywhere between 1.5 and 4 years for a single family household to pay off. That’s without investing in solar or wind generator units. Interested consumers can already find formulas to help them determine if their house or business is a good candidate for a Powerwall unit.
The main downside to the product is actually the homework. The Powerwall is still veiled in secrecy in certain respects, but it would be wise for Tesla’s engineers to come up with simple rubrics to help consumers see the big picture. When it comes to selling self-reliance or renewable energy usage, the everyday consumer should be handed a concise spreadsheet or table to quickly calculate savings and estimate pay-off timelines. If that point is not glossed over, consumers in regions rich in sunlight or wind streams will have solved the greatest problem plaguing alternative energy sources: consistency.
