Tesla Motors, Inc. (NASDAQ:TSLA) will be unleashing its next business segment beyond electric cars – batteries for home and businesses. As the official unveiling hasn’t come so far, the reports point out that Tesla has already installed its batteries in Walmart’s 11 locations in California, as part of a pilot program with SolarCity.
Tesla Motors has already known for its flashy press events and announcements, this pilot program could help to market its events even better, before the official launch. Recently, Tesla CEO Elon Musk said during an earnings conference call with analysts, “We are going to unveil the Tesla home battery, the consumer battery that would be for use in people’s houses or businesses fairly soon.” Although Elon revealed about home battery, the company would be focusing more on large corporations (commercial markets) as its primary target.
When you closely look at California’s Self Generation Incentive Program (SGIP)’s data, Tesla’s intention is clearly visible. Tesla Motors will be receiving around $65 million through this alternative energy investment incentive program. According to Bloomberg New Energy Finance magazine, Elon Musk’s company will be getting nearly 70 percent of SGIP storage projects in California, where 50 percent of applications are received from Tesla.
So far, Tesla hasn’t revealed any more information related to its biggest announcement of 2015, other than what CEO Elon Musk revealed during the conference call on Wednesday. Moreover, Tesla spokeswoman Khobi Brooklyn said that Tesla Motors will be unveiling more information next week – on announcement day?
Renewable Energy World reads:
The SGIP database provides a snapshot of Tesla’s activities in its home state and is by no means a complete picture of the company’s storage ambitions. But Chief Executive Officer Elon Musk has been dropping hints for weeks, and yesterday the company told investors and analysts in an e-mail that Tesla will announce the home battery and a “very large” utility-scale battery on April 30. In the e-mail, Jeffrey Evanson, Tesla’s chief of investor relations, said the company “will explain the advantages of our solutions and why past battery options were not compelling.”
“Tesla has been able to install more than 100 projects, really without anyone noticing,” stated Andrea James, an analyst with Dougherty & Co. Also noting that the EV manufacturer’s energy storage business could be “worth as much as $70 to Tesla’s stock.”
Everyone knows that the company is already constructing the world’s largest battery plant – Gigafactory. That means, Tesla is not only targeting electric vehicles as its target, but also moves beyond EVs – to home and utilities’ energy storage systems.
Stay tuned for more details, as only 3 days left for the official announcement from Tesla Motors. Meanwhile, it would be impossible to acquire Tesla for Apple Inc (If the rumors were true), as the company’s growth is unstoppable, as of now.