Tesla to unveil new battery that could power homes, businesses

PALO ALTO, Calif. (KGO) -- A new battery from Tesla could end your electric bill, although the start-up cost won't be cheap.

The Palo Alto-based company is expected to announce Thursday night that it will start making batteries capable of powering homes and businesses.

The battery is expected to store power collected from solar panels.

Tesla is building a "Gigafactory" to mass produce batteries near Reno, hoping to create 500,000 batteries per year by 2020.