Elon Musk Looking Beyond Cars -- Is Tesla's Residential Storage Unit First of More to Come?

Elon Musk is like a magician pulling a rabbit out of the hat. As a person who strongly believes in the word “disruption”—may it be technology or marketing—it can be said his popularity is attributed to his abilities to break the traditional chain, which no one has ever dared in the automotive industry. He is set up to pull one out of the hat today, at his Design Studio in California, and a huge buzz is in the air. Tesla’s investor relations will present their new wall-mounted home battery and “very large” utility-scale battery packs. Though grid-connected battery storage solutions and backup systems have existed in the market, the major restraint was that the conventional battery-powering systems were large and consist of heavy lead acid battery packs, rather than lithium-ion battery packs, after the successful implementation in cars.