tesla's new product is a battery for your home - lithium ion rechargeable battery

Tesla says rechargeable lithium battery
Ion battery for "Powerwall.
"As the name suggests, the unit is designed to be mounted on a wall and connected to a local power grid.
It will be sold to installers for $3,500, for 10kWh and for 7kWh installers for $3,000.
Delivery will start at the end of summer.
When energy companies typically charge less for electricity, household batteries power up overnight.
They can then turn on the power to power the home during the day.
While many utilities offer rebates, the battery usually costs thousands of dollars.
Related article: Is Tesla's home battery worth spending so much money?
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Tesla's board member, Kimbal Musk, told CNNMoney earlier this week that the new battery would reduce consumer electricity costs by 25%.
It was announced at an event in California.
In the promotional material, Tesla called the battery a "missing piece ".
"In addition to Powerwall, Tesla also announced enterprise-oriented energy storage systems, as well as large-scale systems for utilities.
"The problem with existing batteries is that they are terrible," Tesla CEO Elon Musk said . ".
"They are really terrible.
"When combined with solar, the battery will help accelerate away from fossil fuels," he said.
"This is the future we need," Musk said . ".
"This is what we have to do, we can do it, we will.
"Since Tesla's director of investor relations, Jeff Evans, speculation about new product lines has been set up, sending a letter to investors and analysts, it said the electric vehicle company will soon announce a "home battery" and a "very large utility-scale battery ". " Tesla (TSLA)
Household batteries have been talked about for about a year.
Over the past month, Tesla's share price has risen 20% as investors speculate on the technical specifications and market potential of the battery.
The company plans to release its first-quarter earnings next week.