Tesla has electrified the tech and financial worlds after unveiling a new product that could end our dependence on the current power grid.

The California-based tech giant revealed the new product, called ‘Powerwall Home Battery’ Thursday. According to Tesla’s CEO Elon Musk, the rechargeable lithium-ion battery can be fixed to a wall, removing much of the existing complexity around using a local power source, allowing consumers to power their houses entirely off the grid.

“The issue with existing batteries is that they suck. They are expensive, unreliable and bad in every way. Tesla’s solution is different,” Musk said during the announcement.

“This new battery would slash consumers’ electric bills by 25% just by being smarter about energy use,” he said.

The new batteries cost $3,500 for 10kWh and $3,000 for 7kWh. They are open for pre-orders in the U.S. now. The first orders will be dispatched “in late summer,” reported Tech Crunch.

Watch the announcement in the video below, posted to Youtube by CNET magazine.

I always associated Tesla with very cool cars, but it seems the company has an even grander vision for consumers.

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