Tesla’s Electricity Storage Expansion

Tesla Motors Inc. is poised to make another splash in the electricity storage market. One year after the release of its first home battery – the Powerwall – the industry giant is taking its technology and applying it on a much larger scale.

Although the first generation of Tesla’s Powerwall was believed to be overpriced for consumers and has since been discontinued, the technology behind the product has been adapted and put to new use. Tesla has begun producing grid-scale batteries that are able to harness energy from renewable resources such as the sun and wind. These Powerpack batteries will be built into structures such as solar power plants, and will redirect collected power into regional networks. The lithium ion batteries are capable of storing large amounts of electricity throughout the day before releasing it into electrical systems at times of peak demand when energy from the traditional network is expensive to use.

These new systems of batteries will be applied to electrical grids and will offer higher storage capacity and a balanced supply of electricity to regional systems. Tesla, known primarily for its revolutionary electric automobiles, plans on dedicating half of the batteries it produces toward electric storage rather than cars.

CEO Elon Musk sees nearly limitless potential in the electricity storage market, and believes that the growth rate of Powerpack batteries will be even greater than that of Tesla automobiles. The company reportedly received 80,000 orders for grid-scale batteries last year, accounting for $40 million in quarterly sales. Musk estimates that sales figures for Powerpack batteries could jump to over $1 billion by 2017.

 

Read more here – “Elon Musk Thinks Tesla Can Sell Batteries Much Faster than Cars,” (Michael J. Coren, Quartz)

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