Tesla (TSLA) has increased the price of the Powerwall, its home battery pack, as demand is still through the roof.
There are a lot of factors currently greatly increasing demand for home energy storage.
Heatwaves are creating some instabilities on electric grids in the US, even forcing some rolling blackouts in California.
Many people are turning to home battery packs to have backup power.
Furthermore, Tesla is also prioritizing Powerwall installations with solar panel and solar roof installations, which have also started to accelerate as Tesla has been revitalizing its solar business over the last year.
Just earlier this week, we reported on Tesla reducing its Solar Roof price and updating its website.
What we have missed is that with the solar roof pricing update, Tesla also updated the price of the Powerwall (hat tip to Risshiraj Shah).
Powerwall pricing is a bit complicated since it needs to come with other hardware, but Tesla has essentially increased the price of the Powerwall by $500.
It used to be $6,500 before any other hardware or incentives and it is now $7,000:
With the accompanying hardware and installation, the price goes up to $11,500.
However, it’s important to note that Tesla installs more than one Powerwall on most projects and the price per Powerwall goes down as the price of the gateway and installation is spread across several battery packs.
Many markets will also offer incentives at the government or utility levels for home battery packs.
As we recently reported, Tesla Powerwall is becoming extremely hard to get as demand increases due to home battery pack incentives.
California has strong incentives for installing residential energy storage capacity that has created more demand than Tesla, the market leader with the Powerwall, can handle right now.
Earlier this year, Tesla announced that it installed its 100,000th Powerwall home battery pack.
A month ago, CEO Elon Musk said that Tesla is working hard on increasing Powerwall production as delivery delays are extending into 2021 in many markets.
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