Tesla jumped more than 7 percent Monday, apparently on expectations surrounding a pending announcement on new battery products.

Tesla’s home batteries are set to tear down this roadblock, allowing people to have access to reliable power throughout the night, as long as there is sufficient sunlight during the day. The company’s market cap is $28.99 billion.

Musk, also the chairman of SolarCity, which installs photovoltaic panels on residential rooftops, has already said those panels will come with battery storage within a decade.

However, there are no details about the forthcoming Tesla battery, but one thing is being reported that the hardware will build upon the concepts behind existing home batteries.

Still, questions remain about Tesla’s plans for the stationary storage business, including how much the company will charge to sell or lease the units, as well as how much demand there will be.

Various other questions are raised whether Tesla can improve on personal power plants like it did in electric cars.

“The Gigafactory is a big play for the whole energy world, ” Baumhefner said. For homes, they would be paired with solar-power arrays. That’s because generation from such sources can be almost limitless and needs to go somewhere. The current batteries use lithium-ion technology. The soon to be launched batteries are no exception.

In December, the California Public Utilities Commission held a workshop to craft energy storage and interconnection rules.

(NASDAQ: TSLA) Although, it is a very small city, yet a local taxi operator has placed an order of a hundred Tesla Electric Vehicles, precisely the model S85. This is being done so in many other countries as well such as Holland and Norway; however, within China, this is the first instance of Tesla’s vehicles being used as Taxis.

“Tesla has been able to install more than 100 projects, really without anyone noticing, ” said Dougherty & Co. analysts, Andrea James. He discussed the differing requirements between major utilities for telemetry requirements – the way large battery storage systems communicate with the grid to prevent power surges and gaps – and suggested low-cost options.

The Tesla Model S is currently used by the British Government but there are no distributors in NZ

The Tesla Model S is currently used by the British Government but there are no distributors in NZ

Why Tesla Motors Stock Shot Up Monday Morning