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Tesla’s battery technology for your home…coming soon.

Physical specs of the new Tesla Powerwall announced April 30, 2015.

Physical specs of the new Tesla Powerwall announced April 30, 2015.

Last night, Elon Musk outlined his plan to bring a Tesla battery to homes and offices, generally as an adjunct to solar panels—green energy, on demand. Two models were unveiled: the Powerwall, a battery in 7 or 10 kilowatt-hour sizes and for bigger operations, a 100 kWh unit called the Powerpack. Both are designed to allow houses to pull power from the grid during off-peak hours. All this starting at $3,000.

As more electricity is generated from renewable but intermittent resources like solar and wind, demand for power storage will go up — batteries can store the surplus power and put it back into the grid when needed. The hope for Tesla will be to bring down costs for solar and wind with this innovation to below the price of natural gas for homes today. Tesla will also be working in conjunction with the solar panel company, SolarCity, run by Musk’s cousin for bundling purposes.

For more information, check out this article from Wired.com and this one from The Verge.

For Tesla’s press release of Powerwall with specifications, click here.

Wired also released a brief video explanation of the cost-benefit for this new system. Check out this link to view it.