Tesla CEO Elon Musk (NASDAQ: TSLA) made a huge announcement Thursday night, according to Business Insider, giving information about the company's highly anticipated home battery. The "powerwall" will be available for home use and be capable of storing solar energy, Musk said. "The Powerwall consists of Tesla’s lithium-ion battery pack, liquid thermal control system and software that receives dispatch commands from a solar inverter," Tesla said in a statement. "The unit mounts seamlessly on a wall and is integrated with the local grid to harness excess power and give customers the flexibility to draw energy from their own reserve." Further, the innovative company created another large scale battery for businesses, as well, titled the "powerpack," Business Insider reported. The batteries are available for purchase for $3,500 and $3,000, depending on wattage.