Tesla Motors Inc (NASDAQ:TSLA) has shown to the world that it is not just an electric car manufacturer. CEO of Tesla Motors Inc (NASDAQ:TSLA), Elon Musk announced on Thursday about the car makers entry into energy market. Musk unveiled brand new home batteries, which can store electricity generated by solar cells and wind mills. These batteries are small enough to fit in the walls at home and can store electricity, which can power the houses up to 10 hours. But what’s new in this? Is Tesla Motors Inc (NASDAQ:TSLA) revolutionizing the battery world? Mashable’s Editor-At-Large, Lance Ulanoff talked on Fox Business about the new product from Tesla Motors Inc (NASDAQ:TSLA).
Tesla’s new home batteries are as big as an air-conditioner and can power the houses for 10 hours at just $3500. Musk has generated a lot of excitement around this product during its launch. But are the excitements true enough to believe that this product is a game changer?
Ulanoff said that it’s a game changer in the aspect that we don’t have a product that can store the electricity generated by solar cells at houses. He pointed out that many people sell electricity generated by solar cells to grids, since there was no means to store that energy. He said that there is a product at $3500 from Tesla, which can store that power. He mentioned that the size of the product looks decent enough to fit in houses and he feels that price of $3500 is also a breakthrough. But, he thinks that there is nothing new in the technology.
“[..] But, the technology, the battery technology is not so much of a breakthrough. It’s still Lithium-Ion batteries. Elon Musk is building the Gigafactory in Nevada [..] but that’s not ready. That’s not going to be ready for years. In fact the batteries that will be inside of these devices will come from a number of manufacturers, who are already building Lithium-Ion batteries including Panasonic. That’s not something brand new,” Ulanoff said.
When a battery can store energy from some means like wind turbine and power houses up to 6 months, that becomes a break through. Tesla’s home battery can only power houses up to 10 hours. How can this become a break through? Ulanoff said that this introduces the idea of individuals storing their own energy and consume it when needed. He said that this product cannot act alone as it need solar cells or windmills, inverters and installation, etc. So this product might take more time to mature.
Disclosure: None
Watch the latest video at video.foxbusiness.com
I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said “I lost money by EXACTLY following your stock picks”. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.
Suggested Articles:
