Imagine having a battery to power your entire home. According to Elon Musk’s recent announcement of Tesla Energy, we are not far off.

Tesla CEO Elon Musk announced the new Tesla Energy batteries Thursday night.

MaRS Cleantech’s Jon Dogterom was recently a guest on CBC Radio to discuss the impact of Tesla’s new Powerwall technology, which will enable home owners to store solar energy in a battery that they keep at home. While our electricity system is currently centralized and does not have a lot of capacity for storing on the grid, energy storage at home would allow consumers to optimize the system. As these technologies develop, we will no longer need to worry about the specific time the sun is shining or the wind is blowing to use renewables for power.

Specifically, Jon discussed the implications of low-cost battery technology on the future of self-generation, energy storage and electricity grids.

Going forward, Jon noted that the curve on adoption will, in many ways, depend on pricing around the new systems. It’s estimated that the price of these batteries could drop by as much as 50% in the near future. With this change comes an opportunity for utilities to adapt and restructure their relationship with the consumer.

With extensive experience supporting innovative Canadian companies, Jon provided unique insight into the role of Canada’s cleantech ventures in the future of energy storage.

Listen to the interview.

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