- SolarCity (SCTY +5.5%) is launching DemandLogic, an energy storage solution that's meant to complement its solar installations, and which relies on battery packs from fellow Elon Musk brainchild Tesla (TSLA +2.1%).
- DemandLogic can act as a backup energy source during grid outages, reduce or eliminate the need for grid power during times when the sun isn't shining, and lower the "demand charges" faced by businesses (tied to peak grid usage) by acting as an electricity source during peak hours.
- Much like SolarCity's panel installations, DemandLogic comes with no up-front cost, and is instead monetized via (10-year) service agreements.
- SolarCity admits DemandLogic generally doesn't make financial sense for homeowners at this time, but argues some businesses paying steep demand charges could see an immediate benefit.
SolarCity offering backup energy storage using Tesla batteries
Dec 5 2013, 12:04 ET