WTI Crude

Loading...

Brent Crude

Loading...

Natural Gas

Loading...

Gasoline

Loading...

Heating Oil

Loading...

Rotate device for more commodity prices

Tesla To Install World’s Largest Lithium-Ion Battery Storage Project

Musk

Back in March, Elon Musk made a bet: he said that Tesla could install an energy storage system in Australia that would help prevent blackouts like the one that hit Southern Australia last year—and it could install it and switch it on in just 100 days.

Now, Tesla has announced it is ready to install “the world’s largest lithium-ion battery storage project.”

According to a news release from the company, the project will be completed by December this year, which means it will probably take more than 100 days—but the parameters seem to be the same as the ones Musk discussed with Australian tech billionaire Mike Cannon-Brookes: 100 MW/129 MWh.

There is no mention about the price per MW, which Musk said in his Tweet exchange with Cannon-Brookes would be US$250. Some Twitter commenters on Tesla’s release said there were cheaper bids in the tender that Tesla won.

Tesla will partner with renewable energy provider Neoen and will charge from its Hornsdale Wind Farm in the state. According to Tesla, the storage system will be capable of supplying power for more than 30,000 homes. At the same time, Tesla noted, it is installing individual energy storage systems—the Tesla Powerwall—across Australia.

Related: ‘’U.S. Rig Count Must Drop 150 For Oil Markets To Balance’’

Last year’s blackout left 1.7 million people without electricity and prompted PM Malcolm Turnbull to lash out at state regulations that have encouraged what he believed was too heavy a reliance on renewable energy: the Australian Energy Market Operator found that the blackout was caused by too sensitive protection mechanisms at some wind farms in South Australia. And, of course, there was no adequate energy storage capacity.

Now, Tesla vows to install a grid-scale energy storage system that will not only be sustainable, but will also help avoid power shortages, reduce the number of intermittencies, and “manage summertime peak load to improve the reliability of South Australia's electrical infrastructure.”

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Naomi on July 08 2017 said:
    Battery storage is insanely wasteful. Energy can be stored on site as oil or natural gas. Fire up the natural gas turbine generators as required for load balancing. Australians are impoverishing themselves by their ignorance. Expensive energy supplies will make Australia uncompetitive in manufacturing. Add to the intellectual insult that Australia is a leading exporter of natural gas.
  • Bill Simpson on July 07 2017 said:
    Got to be crazy to make that 100 day promise. We'll see.
  • Dave Hrivnak on July 07 2017 said:
    This is exciting and will take renewable energy to the next level. We already produce all of our power from solar and Tesla PowerWall prices are dropping nicely.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News