Tesla Powerwall already sold out for the year

Just a few days after it was announced, the Tesla Powerwall battery has already been sold-out for the next year.

Now that’s what I call a good business deal.

The company received more than 38,000 reservations for the Powerwall, said Tesla’s CEO Elon Musk during its first quarter earnings call.

The reservations include some 2,800 businesses looking to buy the Powerpack, which is a commercial version of the battery.

“The volume of demand here has just been staggering," The Verge quoted Musk saying. "It really feels like, man, the stationary storage demand is just nutty. Like, worldwide, it’s just crazy."

Musk said he expected the product to appeal more to industrial companies rather than individual companies. “We expect most of our stationary storage sales to be at the utility or industrial scale,” he said.

Tesla Powerwall is a battery which stores excess energy created from solar panels and wind turbines during peak hours. That energy can later be consumed at the time when the production is at a low, during dusk, dawn or night. “As most of you probably know, the sun doesn’t shine during the night, and it’s a problem we should address”, said Musk during the Powerwall introduction.

The strength of the Tesla product and its extremely competitive price have been making headlines ever since it was introduced last Friday.

The company says its Powerwall home battery system can untether your home from the power grid for a few hours, which might not sound like much, but could have huge implications for the way we power our lives.