Tesla (TSLA) has Commercial-Scale Ambitions with Battery Storage (WMT)

Tesla (Nasdaq: TSLA) might start off with residential consumers for its energy storage program, but the company has greater ambitions.

According to Bloomberg, Tesla is planning commercial uses for its batteries. News comes following a review of California’s Self Generation Incentive Program (SGIP).

On Tuesday, Tesla said it would introduce a home battery and a “very large” utility-scale battery on April 30th.

The SGIP documents show that Tesla could reap around $65 million in rebates and that's just from one state. Analyst's have pegged Tesla's storage opportunity at about $4.3 billion annually and could be worth up to $70 per share, according to one analyst form Dougherty & Co.

So far, Tesla is said to have signed up companies like Wal-mart (NYSE: WMT) and Cargill. Shares of Tesla are up over 5 percent on the session with heavy volume.

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