Global Equities' Chowdhry Provides Incremental Update After Talking with Tesla (TSLA) Residential Battery Owner

Global Equities Research analyst Trip Chowdhry followed up with addition due diligence on Tesla (NASDAQ: TSLA) following Elon Musk's tweet yesterday about a "Major new Tesla product line -- not a car -- will be unveiled at our Hawthorne Design Studio on Thurs 8pm, April 30"

Chowdhry stated that they know of two Tesla Residential Battery Owners, and spoke to one as the other is out of the country. Below is his incremental update after speaking with the owner:

• There are about 230 Households in California, who currently have Tesla Stationary Battery installed in their Homes. Another about 100 Households are out of California.
• This customer had the Tesla Stationary Battery for about One and a Half years, and is installed in his garage
• The Battery has to be installed 1.5 feet above the ground, and should have an open space of 1 ft on all sides.
• The battery does not make any noise, does not need any maintenance, has no drippings
• The Battery has the inverter also
• The battery is about 3 ft tall and 2.5 ft wide and looks good
• The installer offered a choice between 10KWH and 15KWH; he went with 10KWH
• He tells us that the pricing is all flexible...but he believes he paid it in the following manner:
  • He was told that the 10KWH Battery is priced at about $13,000
  • He was told that PG&E will give a rebate of 50%
  • The installer, gave him many plans to chose from, which he does not remember.
  • He went with a plan of $1,500 down, and $15 per month and after 10 years, the installer, will take the battery back from him
• His battery can be controlled from his iPhone, and has a web application also
• His Battery is set for the following:
  • Charging from Solar, and when the battery is fully charged, energy is sent to the PG&E Grid for rebate on Electric bill
  • Charging directly from the Outlet. He does it...He charges the battery at night at $0.11 and then at 3:00 PM sells it back to Grid at $0.43. He tells me he makes between $10 to $12 every month doing this
  • Fully off Grid. His battery can be charged by a regular generator also
• He has not had any problems with the Battery System...and gets OTA Software updates almost a couple of times a month

Further, Chowdhry provide some old notes from the 2014 sustainability conference:

• It is widely believed that Google has a few Tesla Commercial Grade Stationary Batteries in a couple of their buildings
• It is also believed that the Apple's new campus will have Tesla Commercial Grade Stationary Batteries ...
• Commercial Grade Stationary Batteries are rated at more than 400KWh

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