Within a Week of Its Launch, Tesla Powerwall Rakes in Over $800 Million

By: | May 22nd, 2015

Last month, US electric car maker Tesla launched its rechargeable Lithium-ion battery Powerwall in Los Angeles during an event at Tesla Motors in Hawthorne, California.

Within a week of its launch, Tesla received more than 38,000 orders for its Powerwall Home Battery. The overwhelming demand means that Tesla has sold out of Powerwall until mid-2016. Tesla will start shipping the batteries in late 2015.

All About Powerwall

Powerwall is a rechargeable Lithium-ion battery designed to store energy ready for use when you need it, or as a backup power supply during an outage.

It is a six-inch thick shield-like pack that measures just 3×4 feet in size. It charges the battery at times when energy is cheap and powers your home when energy is expensive. It stores energy generated from solar panels to provide the cost benefits of solar during times when sunlight is not available. Powerwall can support the majority of household loads like refrigerators, lighting, computers, alarm systems, and heating and cooling units.

The two main versions available are the $3,000, 7kWh version or the $3,500, 10kWh version. If all the people who reserved the battery actually end up buying the Powerwall, it will add to about $800 million of revenue for Tesla.

Nidhi Goyal

Nidhi is a gold medalist Post Graduate in Atmospheric and Oceanic Sciences.

More articles from Industry Tap...