Powerwall Technology Threatening Traditional Utilities
Having already infiltrated the transportation and automobiles sectors, energy storage systems are now eyeing utilities such as Powerwall as their next takeover target.
The shift away from traditional utility models began years ago. More complex grid structures and the emergence of smaller, decentralized distributed energy resources (DERs) began chipping away at the monopoly previously enjoyed by a few central power producers.
And now, innovation, climate change, public policy, and even COVID-19 have intensified movement.
At the forefront of this trend is Tesla, which not only sells cars but also manufactures solar panels and battery energy storage systems. Its lineup includes systems for residential (Powerwall), commercial (powerpack), and utility-scale (Megapack) applications.
However, while Tesla’s brand power and somewhat infamous CEO have earned the Powerwall company widespread recognition in the burgeoning renewable energy market, they are far from being the only player.
“Over the last five to 10 years we have seen an uptick in new entrants providing retail energy services,” Albert Cheung, head of global analysis at BloombergNEF, tells IEEE Spectrum. “It is now quite common to see these types of companies gain significant market share without necessarily owning any of their own generation or network assets at all.”
Demand for Powerwalls is Growing Rapidly
Even as customers complain of surprise price increases and long delays, there is no shortage of demand for Tesla’s Powerwall.
There are several reasons why, despite a few setbacks, Powerwall companies like Tesla continue to see orders skyrocket.
We are coming off a record-breaking year where unprecedented heatwaves placed excessive pressure on existing power grids resulting in widespread power outages and rolling blackouts throughout Western Canada and many US states.
Put-out customers are now turning to Powerwall companies in search of more reliable backup power sources. In many areas, the move to decrease energy dependency is gaining both government and utility-scale support, with various rebates and incentives encouraging more consumers to switch to clean energy systems.
The added sense of urgency and cost-cutting incentives are making Tesla’s Powerwall harder to find and more expensive. The Powerwall was initially priced at US$6,500 and recently jumped to US$7,500, and that’s before hardware and installation costs. All-in, consumers can expect to pay between US$12,000 -$16,500 for a complete Powerwall system installation.
However, with lower-cost competitors entering the market, Tesla may soon lose some of its power to dictate price.
EV Battery Tech’s IoniX Pro Home SmartWall is Coming to Market
One potential Powerwall challenger is EV Battery Tech. The blockchain battery company recently announced it was resuming pre-orders for its IoniX Pro Home SmartWall™ and that the system will soon be on display in select locations across North America.
The IoniX Pro Home SmartWall™ was first revealed as a concept in December 2020. Now, thanks to help from the Company’s Advisory Board, the concept is ready to launch. On September 7, 2021, EV Battery Tech celebrated the delivery of the first SmartWall to a customer in the company’s hometown of Vancouver, British Columbia. Pre-orders for the device are now open again with 2022 delivery dates and will be available on a first-come, first-serve basis.
“I am so proud of our team for working around the challenges of COVID-19 to bring this pivotal milestone to fruition, after launching the concept of this product only 8 months ago. It’s a phenomenal achievement by everyone involved,” commented EV Battery Tech CEO Bryson Goodwin.
The SmartWall is the first-of-its-kind energy shortage system to incorporate EV Battery Tech’s patented AI-powered Battery Management System (BMS) technology. Users will have the ability to control and monitor their system remotely, including features tied to BMS-enabled remote maintenance capabilities. Combined, these features make the SmartWall the longest-lasting, most reliable battery energy system available on the market.
A single SmartWall has a capacity of 15 kW (compared with 13.5 kW for Tesla’s Powerwall); however, the units can be stacked, increasing capacity to up to 150 kW.
Disclaimer: The company described in this article is a customer of NAI Interactive Ltd. This material is for informational purposes only and is not intended as a recommendation or offer or solicitation for the purchase or sale of any securities or financial instruments, or for transactions involving any financial instrument or trading strategy.