Tesla utility batteries are an asset considering their functionality believes Musk.
The chief executive officer of Tesla Motors Inc. Mr. Elon Musk recently felt that it was high time to address the increasing concerns by analyst regarding the newly unveiled battery products. Recently, while Mr. Musk addressed the annual convention at Edison Electric Institute, the man behind the success of this firm mentioned to the owner that investing in its battery products will be beneficial for them since there are no potential; threats associated to the batteries.
The purpose behind such remarks was to engage the utility owners since these firms can collaborate to provide solutions that result in a greener environment. According to Bloomberg, Mr. Musk mentioned at the held event regarding the expected sale of the Model S that it will help in boosting the electrical demands that might arouse in the coming decades. As a response to this, the energy sources which are renewable like the wind and solar play a drastic role in the generation of power. According to him, around one-third of the increase in the electrical demand will be covered through distributed generation either from battery storage or solar power.
Mr. Musk further claimed that a great chunk of power generation will be through solar that will be creating drastic market opportunity. The company has come up with two products namely Powerpack and Powerwall. Mr. Elon Musk believes that a great chunk of battery sales will be governed through Powerpack system, for which it is already collaborating with several industry giants globally.
Previously, the electric car giant joined hands with the LichtBlick, the German energy and information technology firm allowing them to explore the European fraternity. Initially, the company will start operations in Germany and later move other overseas markets which include Australia and New Zealand. Tesla Motors has also signed a contract with Gaelectric that will purchase and deploy the Tesla made batteries at suitable industries.
Tesla has achieved another milestone by launching its batteries which are not only economically priced in the industry but also serve a major purpose. According to BidnessEtc, “the grid electricity charge for commercial purposes is high, compared to the one in the US, as cited in a Bernstein note, released last week. Analysts at Bernstein pointed out Hawaii to be the only location where Tesla residential batteries will be economical, as they have an average electricity rate of $0.37 per kilowatt hour (kWh). In contrast, the electricity charge will cost $0.3 per kW for households if they use roof top solar panel-backed Tesla battery.”
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