Tesla announced its latest innovation this week, unveiling a rage of batteries to power homes, businesses and utilities.

Dubbed “Powerwall,” the battery is rechargeable lithium-ion model that mounts on the wall and comes in 7 kilowatt-hour or 10 kilowatt-hour versions.

CEO Elon Musk said his company’s new product is the beginning of the transformation of the world’s energy infrastructure. “Our goal here is to fundamentally change the way the world uses energy,” he said at an event Thursday (April 30). “We’re talking at the terawatt scale. The goal is complete transformation of the entire energy infrastructure of the world.”

Powerwall helps fortify an owner’s home against power outages by providing a backup electricity supply. It’s automated and compact, and offers independence from the utility grid and the security of an emergency backup.

Deliveries for the Tesla Powerwall will begin in late summer, starting at $3,000.