Tesla's New Report Says Powerwall With Solar Outperforms Traditional Generators
Tesla Inc. (NASDAQ:TSLA) has presented a comparative study, suggesting its Powerwall combined with solar power to be more cost-effective than traditional backup generators.
What Happened: Electrek reported on Thursday Tesla has largely cleared its Powerwall backlog through increased production, and is now striving to stimulate more demand for its home energy storage system.
The EV manufacturer has released a report comparing Powerwalls’ performance as a backup system to conventional backup generators. Tesla’s findings indicate that pairing a Powerwall with solar power creates a more economical backup system than a traditional generator.
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The report reveals that when supplemented with solar power, Powerwall can significantly decrease the monthly electricity bill, making it more cost-effective than a generator over a decade. As per Tesla’s calculations, users could witness savings of around $20 each month when considering electricity bill savings. Over 10 years, the overall system could cost up to 20% less.
Why It Matters: Tesla’s Powerwall has made significant strides in the renewable energy sector. In July 2023, Tesla’s growing energy and solar divisions allowed Texas residents to generate energy that could be sold back to utility companies. This proved particularly beneficial during the summer when the Earth recorded its highest temperature in over 40 years.
Then in November 2023, Tesla initiated the ‘largest virtual power plant’ in Puerto Rico. 75,000 Powerwall owners in Puerto Rico were able to support their grid and receive compensation for it reducing their reliance on fossil fuels.
Image: Shutterstock/ AngieC333
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