Tesla’s New Battery For Homes Already Has Competition

Tesla’s New Battery For Homes Already Has Competition

Even before Tesla formally unveils its solar-storage batteries which can be able to power up business and homes, a new competitor has arrived by the name of Alevo.

In a memo that was released by Tesla, which has come to be known for its luxurious electric Model S sedan,  to its investors, the electric car maker stated that it will be unleashing its new products in a highly anticipated event which is scheduled for 30th April this year.

It is believed that by using Tesla’s solar panels, which have been produced by its sister company SolarCity, you will be able to store energy for a later use, essentially making it possible for a building to charge itself.

According to Bloomberg Tesla, has been conducting several tests with its solar-storage batteries in several homes in California, 300 to be exact and 11 Walmart stores. That said Tesla is already facing numerous competitors even before it unveils its product officially.

For instance, a Swiss battery startup which goes by the name Alevo has been able to raise an impressive $1 billion in private funding in 2014. According to Alevo, each of its GridBanks can be able to power up to 1,300 homes for at least an hour. Gridbanks are shipping containers which have thousands of battery cells.

Another company which is also building up as a competitor for Tesla is Enphase Energy which stands as one of the biggest players in the solar inverter market, this is according to a report by Motley Fool on the investment site.

 

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