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Will Tesla's Powerwall home battery change the world?

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Tesla yesterday unveiled its new Powerwall home battery in an effort to accelerate the transition from fossil fuels to renewable energies such as electricity. It will be available in the U.S. starting this summer at $3,000 for the 7kWh model and $3,500 for the 10kWh model (converter and installation not included). Other global markets will follow in 2016. 

The Tesla Powerwall is a lithium-ion battery that charges using electricity generated from solar panels, or when utility rates are low, and powers your home in the evening. It also protects you against power outages by providing a backup electricity supply, the company says.

The battery is automated, compact, and simple to install to the side of your house or garage. Thanks to the solar panels, it offers homeowners independence from the utility grid. 

Stressing the revolutionary aspect of the Tesla Powerwall, CEO Elon Musk compared the technology to what cell phones did to landlines.