The Tesla Powerwall is a lithium-ion battery storage device that charges using electricity generated from home-rooftop solar panels. The system enables customers to power their homes during the evenings (in addition to the daytime) and maximises self-consumption of solar power generation. The Powerwall works to give consumers the capacity to live increasingly-independent of the electricity grid.

The technology has just hit Australian markets and with the cost of Solar Panels falling dramatically and the price of battery storage systems such as the Powerwall expected to halve in the next five years, there is now adequate incentive for households to consider becoming increasingly self-sufficient energy prosumers.

image source: teslamotors

Consumer advocacy group CHOICE has crunched the numbers – If you already have solar panels, the Powerwall and a compatible inverter will set you back between $12,000 and $12,500 depending on which inverter you choose. If you are yet to invest in Solar panels you are looking at between $13 990 and $16 500 depending on the provider.

Watch this short clip from The Daily Conversation to see how this technology can change our patterns of energy consumption.