Tesla Trims Powerwall Price By $300 – But It's Still A Pricey Investment For Backup Energy

Electric vehicle giant Telsa Inc (NASDAQ:TSLA) has slashed the price of its Powerwall by $300 in the U.S. 

Despite this 3.4% reduction, the product’s price remains substantial at $8,400, excluding taxes and installation expenses. 

To qualify for an additional $500 rebate, buyers must install and register their Powerwall by Oct. 31.

The Powerwall, an integrated battery system developed by Tesla, is designed to store solar energy for backup purposes, providing protection against power outages and grid failures. 

Elon Musk, Tesla’s CEO, has previously emphasized that a Powerwall can sustain homes during power interruptions, even in high-altitude locations, allowing homeowners to operate independently from the grid for up to a year.

Why It Matters: Earlier this month, Tesla introduced the third generation of its residential energy storage product, known as the Powerwall 3, which is slated for release in 2024. 

Musk highlighted that the PW3 is optimized for straightforward installation and offers high power output, stating that “a single Powerwall (PW3) can serve as an uninterruptible power supply for most homes.”

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