<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0HqK8B_0w1cNouE00" alt="https://img.particlenews.com/image.php?url=0HqK8B_0w1cNouE00" width="1920" height="1080" ><figcaption>The GM Energy PowerBank battery-powered energy storage system. Photo: GM</figcaption></figure>General Motors is launching a battery-powered home-energy storage system, placing the company in direct competition with Tesla.Why it matters: Stationary power storage can serve as an alternative to home generators and can provide a charge to electric vehicles when the electricity is out.Driving the news: The GM Energy PowerBank goes on sale today in multiple sizes.<ul><li>The PowerBank comes in 10.6 kilowatt-hour and 17.7 kWh options. Customers can pair two of the larger units to power the average U.S. home for up to 20 hours.</li><li>The company is also launching a kit that enables GM electric vehicle owners to power their homes and a system capable of converting solar power into electricity stored in the PowerBank.</li></ul>What they're saying: "We believe we have the most comprehensive charging energy solution on the market today," Wade Sheffer, vice president of GM Energy, tells Axios.State of play: The PowerBank starts at $10,999 for the 10.6 kWh version, including the power inversion system and reverse EV charging.<ul><li>The product will compete directly with the Tesla PowerWall, which has 13.5 kilowatt-hours of storage capacity and sells for $14,858.</li><li>Both products are generally eligible for tax incentives.</li></ul>The big question: Will GM target industrial or utility use, which has powered much of Tesla's energy storage business?<ul><li>Sheffer said the company's initial focus is on residential customers but that the company would explore opportunities to sell to industrial and utility customers.</li><li>Industrial sales helped propel Tesla's energy storage and generation revenue to double in the second quarter, compared with a year earlier.</li></ul>The intrigue: The announcement comes the same day Tesla is poised to reveal its much-anticipated robotaxi.<ul><li>Sheffer said GM is making the announcement Thursday because the product — which will be manufactured by a supplier — is ready to hit the market.</li></ul></div></body>

Mountain View, CA

NewsBreak

GM debuts Tesla Powerwall competitor

General Motors is launching a battery-powered home-energy storage system, placing the company in direct competition with Tesla. Why it matters: Stationary power storage can serve as an alternative to home generators and can provide a charge to electric vehicles when the electricity is out. Driving the news: The GM Energy...

GM debuts Tesla Powerwall competitor

Comments / 0