Tesla Powerwall Battery: Pricey Power

Tesla unveiled its newest product - the Tesla Powerwall battery, a home home battery that makes a household store solar energy making homes less dependent on the utility grid and more secured during a power outage. This battery can be mounted on a wall, with a price ranging from $5000-$7000 depending on your choice of lease and financing terms.

According to Tesla's its official site 'Powerwall is a home battery that charges using electricity generated from solar panels, or when utility rates are low, and powers your home in the evening.' Meaning, when there is power outage Powerwall will act as an emergency backup. It is more like a generator, only that you do not need gasoline.

"I think it's brilliant. I would consider upgrading to a more powerful home battery if they could figure out a way to get me totally off the grid," a consumer named Thielen said of Tesla's Powerwall. Though it works like a generator, it does not function as one because it cannot run devices with high power consumption like clothes dryers or air-conditioning system.

However, it sells at a price that not everyone can afford. Some obserbers already call it a "toy for rich green people" mainly because it costs some $7000 upon installation.

Is it worth buying the Powerwall? That really depends on where you live and how much you make for a living.

"Tesla sees enormous potential for the Powerwall in markets like Hawaii, Germany, and Australia, where the price of electricity is significantly more expensive than the price a utility will pay a homeowner for excess solar production. In these markets today, the Powerwall can provide compelling economics," said Alexis Georgeson from Tesla.