Tesla is set to announce a major new product this Thursday, but we may already know exactly what the company has planned. CEO Elon Musk already hinted that the automaker could soon offer home battery packs, and a new report claims to confirm those rumors.
According to The Guardian, Tesla is ready to unveil a battery designed to power your entire home. You’ll be able to charge the new product overnight and use it during the day, or power it directly with renewable energy sources like wind or solar power. Tesla’s home battery could also be extremely useful during a power outage, assuming it’s charged ahead of time.
Musk already provides the same service on a smaller scale through SolarCity, a separate company he owns which serves around 300 people. Tesla is expected to offer its batteries through a similar rental scheme, which includes an initial $1,500 fee followed by payments of $15 per month for 10 years. Each battery actually costs roughly $13,000, so a rental system makes more sense.
Assuming Tesla offers the same basic deal on a much larger scale, it could provide thousands of home batteries this year. We won’t know for sure until later this week, but hopefully it won’t be too long before the company’s new product gets an official launch.