Tesla (TSLA) Pairs with First Utility on Powerwall Battery

Tesla Motors (Nasdaq: TSLA) has entered an agreement with its first utility to being offering the Powerwall battery.

Vermont's Green Mountain Power announced that it would offer the Powerwall to customers for outright purchase or lease.

More from the press release: GMP outlined to the Vermont Public Service Board its plan to offer three options to customers who want the Powerwall. Customers who share access of the battery will pay about $37.50 a month with no upfront cost, which equals $1.25 a day. Customers can also choose to purchase the Powerwall for about $6500, share access with GMP, and get a monthly bill credit of $31.76, which represents the value of leveraging the battery to help lower peak energy costs. And Vermonters can buy the Powerwall outright from GMP with no shared access for about $6500.

Shares of Tesla are up 1.2 percent Thursday morning.

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