Wal-Mart A Guinea Pig For Tesla Batteries

Tesla Motors Inc. (NASDAQ: TSLA) is set to unveil a new line of batteries designed to be used in businesses and private homes, but it appears that Wal-Mart Corp (NYSE: WMT) had a sneak preview of the company's highly anticipated offering. Bloomberg reported that the batteries have already been powering about a dozen Wal-Mart stores across the US as part of a testing program.The batteries are expected to meet a variety of needs from powering huge commercial operations like factories to smaller scale projects like reducing energy needs at schools and wineries. The project is also expected draw in around $65 million worth of SGIP rebates for Tesla.Why Wal-Mart?While the batteries aren't set to debut until April 30th, Tesla has been testing their use in several different locations in an effort to get a better gauge of their functionality. Tesla has partnered with SolarCity Corp (NASDAQ: SCTY) to equip around 300 homes in California with solar panels, the energy from which will be stored in Tesla batteries. Wal-Mart emerged as another tester because of its existing relationship with SolarCity; the company has already installed the batteries in 11 of its California stores.Why Batteries?Tesla, best known for its luxury electric cars, is looking to diversify its product offerings while continuing to invest in alternative energy. Utility batteries like the ones Tesla is expected to reveal next week are essential for individuals and companies who wish to use and store solar power in order to meet their energy needs and lower their utility costs. The foray into energy storage is projected to increase Tesla's stock price by up to $70.