A look at Tesla’s Powerwall

Summary

• A relatively new Tesla creation, Powerwall brings sustainable power resources to private homes, with proven significant cuts in electricity bills.
• Presented in 2015, Powerwall has made a lot of progress as Tesla manufactured two versions of the product.
• Even though the idea of major cuts for bills is attractive, investing in Powerwall is not for everyone, as few people reported money losses after using the solar battery.

Outmost sustainability is a crucial goal for Tesla and its CEO and co-founder, Elon Musk, who never ceases with inventing new sustainable products.

MUST WATCH: Why is Tesla Stock doing so well?

As almost every other smart Tesla (NASDAQ:TSLA) invention, Powerwall marked history when it launched for the first time in May 2015.

Apart from electric vehicles, Tesla is putting more focus on eco-friendly batteries that can be installed in people’s homes. Even though they are not quite affordable yet, these batteries make electricity bills cheaper long-term, as well as support renewable energy that helps beat climate change.

INTERESTING READ: Are Innovative Tesla batteries set to change the future?

What is Powerwall?

Introduced in 2015, Powerwall is a next-generation solar battery that gathers energy when the sun shines. It is a type of lithium-ion battery that can be used for both personal and business needs. Tesla officially launched a new Powerwall model (Powerwall 2) in 2017. 

The invention of Powerwall was significant because it has changed energy resources in some homes. However, Powerwall and other batteries have some downsides, the most obvious one being that they do not charge overnight.

DO READ: How did Tesla achieve an 11% rebound after its worst day on record?

How does Powerwall maintain back-up security?

Unlike some other solar batteries, Powerwall stores electric energy. Its smart system allows the battery to identify if there is a power shortage in place. In that case, Powerwall becomes the primary energy resource as it has the power to operate the whole home.

If paired with solar, Powerwall can keep all devices up-and-running for days, without making any noise or using fuels. That means that Powerwall can make any home completely sustainable, as a combination of solar and the battery recharges with clean power.

DID YOU READ: Piedmont to Supply North Carolina Spodumene To Tesla

Is Powerwall dependant on the grid?

No Powerwall battery needs any resources from the public grid. The battery is connected to a household and is charged by the sun.

Moreover, each home that has a Powerwall battery has less dependence on the electric grid, which means that users do not have bills as expensive as they used to before having the Tesla solar battery.

Tesla recommends pairing more products from their range, including vehicles, to save up as much money as possible, while reducing the household’s carbon footprint.

DID YOU KNOW: Tesla Surpasses Toyota, Becomes the Most Valuable Global Car Maker

Image Source: © Kalkine Group 2020

How is Powerwall unique?

It would be misleading to say that Powerwall was the first solar battery. However, Powerwall might be the first battery that is commonly used in private households.

In an ideal world, Tesla’s Powerwall would be the main source of energy for all households that had installed it. The electric grid would serve as a back-up plan so voltage bills would be almost non-existent.

All Tesla creations, including Powerwall, were produced as an open patent. That means competitors are allowed to copy the product draft without being sued for copyright misconduct.

NEW IN: Elon Musk Fires Tesla PR team and Tesla Model S Price Cut to US$69,420

However, the thing that differentiates Powerwall the most is the Tesla app. Powerwall users can download the app and control the whole system from any site. The app allows the Tesla battery customers to manage goals and expectations for personal savings, as well as manually control the system with one click on any smartphone device. It has 24/7 access and offers exact numbers of energy that is both stored and already used.

Even though Powerwall is one massive battery (weighs more than 100 kg), its minimalistic design fits well with modern, simplicity homes. Powerwall users do not need to worry about potential accidents, as the solar battery was created as water-resistant and has no visible wires, so it is children and pet friendly. If needed, more Powerwall batteries can be bundled up for even better efficiency.

Powerwall also comes with a 10-year warranty policy.

MUST WATCH: All the latest about electric vehicle and clean energy leader Tesla

Is Powerwall worth it?

For now, most Tesla products are still not quite affordable for most of the general public. Tesla has a reputation for being a rich-people product, and Powerwall is no different. If paid as a one-off payment, the battery itself costs more than A$10,000, without installation costs. According to the recent independent case study, Powerwall is worth the money but is not for everyone.

The home where the study was held recorded an 88 per cent drop in electricity bills within the first year of using Powerwall. With this number, many media outlets reported expectations that were better than expected.

The house already had a solar panel installed before getting Powerwall, so the research estimates that the panel itself helped reducing 50 per cent of total savings. At the same time, Powerwall was to thank for the other 25 per cent.

After calculating all electricity bills throughout the years, Powerwall is an efficient investment that shows a significant plus in assets. However, the payback period was estimated to get back in less than ten years, so Powerwall users need to be patient. Another thing that is worth mentioning is that the Australian authorities give out grants for using sustainable energy so that each user could receive A$50 monthly.

As ten thousand dollars is a lot of money, Tesla suppliers adjusted and are offering instalment payments over five years instead of one charge. Powerwall can be of much use in a home where household members measure their costs effectively and without mistakes. Some people reported money losses after using Powerwall because they thought how the battery itself could cut a significant amount of bills. In reality, it is highly recommended to get a full solar panel system too.

Bottom-Line

Powerwall seems to be a worthwhile investment and will pay off over time, if handled correctly. Apart from saving cash, Powerwall teaches its users to be more aware of sustainable energy resources, while using less unsustainable power.