Tesla Motors plans to use its lithium-ion battery technology to create an onsite battery storage system for homes and businesses, reports Bloomberg.
“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,” said Tesla CEO Elon Musk, during an earnings call, as reported by Bloomberg.
The batteries could allow people who have solar systems to store their excess solar energy.
Musk said the energy storage product has been designed, and Tesla will start producing it in about six months.
SolarCity, of which Musk is chairman, already offers an energy storage system to help businesses reduce utility costs by controlling peak usage. SolarCity DemandLogic allows businesses to use stored electricity to reduce peak demand and can also provide backup power during grid outages.
Last September, Tesla announced it had selected Nevada as the official site for its new $5-billion gigafactory where it will produce batteries in partnership with Japanese electronics maker Panasonic.