Battery backup for computer systems have been around for decades. But Tesla Motors has announced battery systems designed to power homes. "The Powerwall is around three feet wide and four feet tall, weighs 220lbs, and can be installed either on an outside or inside wall of a home. The 'daily use' version has a capacity of 7 kilowatt-hours, which is around a quarter of a home's daily usage."
The product is intended to store power during times when power rates are cheaper, then allow it to be used during peak power usage time, to save on costs. However, it could also be used in conjunction with a solar panel system, or even as a backup in the event of a power outage.
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