In the modern era, most people have become used to getting less bang for their buck over time. However, Tesla CEO Elon Musk is evidently out to change this — at least in terms of his company’s products. During Tesla’s 2015 Annual Shareholders Meeting on June 9, Musk said that the Powerwall will double in power output while staying at the same price, according to Electrek.
At peak use, the residential energy storage system will now run at 7KW, and it will operate at 5KW during steady use. Musk said that the price of the Powerwall will remain $3,000 for the 5KWh daily cycle edition. The 10KWh weekly cycle version will be available for $3,500.
If you’re interested in getting one of your own, you can reserve a Powerwall on the Tesla website now. The product is set to begin shipping out to customers this summer. The Powerwall is designed to be charged by energy received from solar panels, which can then be released at the owner’s discretion. It serves as an ideal backup system in the event of an outage, and can save money, too. Powerwall can store electricity while rates are low and then be used to power homes during peak hours. Homeowners can thereby gain an upper hand on utility companies.
When the Powerwall initially debuted, more than 38,000 reservations were made in the first week. Musk admitted that he was overwhelmed, but he noted that the Powerwall has had its fair share of critics as well. Most people claimed that 2KW could not efficiently power an entire household.
Now, this announcement at the annual shareholders meeting has proven that Tesla is listening.
At 220 pounds, the Powerwall is no lightweight piece of technology. However, it can be installed onto any home by a trained electrician. It also comes with a 10-year warranty, and it’s single-phase and three-phase utility grid compatible. Those who preorder one now will be contacted this summer to arrange installation with Tesla.