Why Tesla's battery for your home should terrify utilities
Earlier this week, during a disappointing Tesla earnings call, Elon Musk mentioned in passing that he’d be producing a stationary battery for powering the home in the next few months. It sounded like a throwaway side project from someone who’s never seen a side project he doesn’t like. But it’s a very smart move, and one that’s more central to Musk’s ambitions than it might seem. To understand why, it helps to look not at Tesla, but at SolarCity, a company chaired by Musk and run by his cousin Lyndon Rive. SolarCity installs panels on people’s roofs, leases them for less than they’d be paying in energy bills, and sells surplus energy back to the local utility. It’s proven a tremendously successful model. When you have a lot of solar, you need a lot of batteries Fueled by financing systems like SolarCity’s, government subsidies, and a rapid drop in the price of photovoltaics, solar has been growing fast. Forecast storage market from GTM Research. "I might love batteries more than cars."
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