General Motors, the iconic American automaker, is stepping into the home energy storage market with its new product, the PowerBank. This move comes from GM Energy, a subsidiary of the company, and is a direct challenge to Tesla’s popular Powerwall product.
The GM Energy PowerBank is a stationary storage system that allows users to store and transfer energy from the grid or solar panels, providing power during outages. It comes in two versions: one with 10.6 kWh battery capacity and the other with 17.7 kWh. By combining two 17.7 kWh PowerBanks, customers can power a typical American home for approximately 20 hours.
GM’s foray into the energy storage market is a significant development. The PowerBank is priced at around $11,000 (excluding installation and taxes) and comes bundled with the GM Energy Home Hub & Inverter. This puts it in direct competition with Tesla’s Powerwall, which boasts an energy capacity of 13.5 kWh and is currently priced at $16,702 in California (including gateway, accessories, installation, and taxes).
The launch of the PowerBank signifies GM’s ambition to expand beyond its traditional automotive business and embrace the growing renewable energy market. This move signals an intensifying battle between the two giants, as they compete to dominate the home energy storage sector.
