While speaking at a private event last week, CEO Elon Musk announced that the company will be releasing an upgraded second version of the Powerwall battery pack.
The first Powerwall — a lithium-ion battery pack designed to power homes and businesses — was released last May and, according to Engadget, is sold out until the middle of this year. Offering 7kWh with a 92 percent efficiency, the first-generation Powerwall aimed at consumers retails for about $3,000.
“We’ve seen very good results,” said Musk. “We’ll be coming out with version two of the Powerwall probably around July, August this year, which will see further step change in capabilities.”
The battery packs use the same tech as Tesla car batteries and can be connected to solar panels to store energy and regulate electricity use, as well as provide backup power in case of an outage.
Musk didn’t get into the details of the upcoming Powerwall’s features but did say it would offer “moderate improvements,” such as a longer lifecycle, reported Engadget.
Currently, Tesla uses batteries purchased from Panasonic in its Powerwalls but will soon bring production in-house at its Gigafactory in Nevada.
Powerwall became the nation’s first home battery to be adopted by a large-scale utility in December when Green Mountain Power, Vermont’s largest utility began offering the system to its customers.
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