While Tesla is best known for being a pioneering electric vehicle manufacturer, it is also involved in manufacturing batteries. In a new development, the company announced that it is going to start installing Powerall storage batteries for home power at some point in the spring of 2020. It will be the first foray of the product into Asia and will mark a new chapter in the history of the company’s battery business. As the world is leaning more and more towards renewable sources of energy, the market for Tesla’s product could expand significantly in the years to come.
The battery has a capacity of 13.5 kilowatt-hours and has the capability of storing solar panel generated power efficiently. The cost of the product is going to be 990,000 Yen, which works out at $9,135. The battery is also going to include the Backup Gateway, which is in charge of managing the entire grid. The company also announced that the product could be bought only from the Tesla website or customers can also choose to buy it from selected third-party retailers.
It is interesting to note that Tesla has started taking orders from customers from Japan since way back in 2016 but it is only now that it has announced when installations are going to commence. The company is now making a big move into Asia and this comes close on the heels of Tesla broke ground in China. Japan is the third-largest economy in the world and entry into that market is without a doubt a promising move from the American company. The sector in question has the potential for significant growth and that manager of energy products in Japan, Shinji Asakura said as much. He said,
“Tesla believes that the Japanese home battery market has big growth potential.”