Tesla CEO Elon Musk has long insisted that his company is more than just an automaker. Over the years, this claim faded into the background amid problems with the production of electric vehicles. However, this year, the approach will change and Tesla will make serious efforts to become a more significant supplier of energy systems for both individuals and large customers.
Image source: Bloomberg
“Over time, we believe that the demand for stationary energy storage systems will be at least as strong as the demand for cars.”– said Elon Musk at the annual meeting with the shareholders of the company in October last year.
Tesla is aiming to create a model that resembles Apple’s hardware ecosystem, which tends to encourage people who have already made a purchase to purchase even more items. In this regard, Tesla can offer three main types of goods: electric vehicles, solar panel systems Solar Roof and Powerwall batteries for storing stored energy.
“Tesla’s core concept is to make the home as energy independent and self-sufficient as possible. The idea is to have a home that is fully powered by Tesla. “– said analyst of research service Bloomberg LP Paul Lezcano (Pol Lezcano).
Tesla’s success in the automotive industry can help fuel the energy business. Having an electric car means a significant increase in electricity bills. Solar energy will help cover these costs over time. Tesla estimates that the family’s need for electricity will double if two cars with internal combustion engines are replaced with electric vehicles. So Tesla is pushing customers who already use solar panels to buy Powerwall batteries. Due to this, the collected energy will accumulate, which will help solve the problem with the lack of energy.
Tesla’s macro projects might also pick up steam this year. Renewable energy storage batteries are an attractive option for utilities looking to reduce emissions. In the San Francisco Bay Area, Tesla teamed up with PG&E Corp. built the 182.5-megawatt Elkhorn Battery Energy Storage System, which will be operational in the second half of the year and will become one of the largest such facilities in the world. Tesla is offering Utilities a 0.8 megawatt Megapack modular system that costs regarding $ 1.4 million. The battery is regarding the size of a shipping container and will soon be manufactured at the new Megafactory, which is being built in California.
At the junction of households and the network, there is a Tesla pilot program to create a so-called virtual power plant. Under this program, customers of California’s three largest utilities can channel excess energy back into the grid in the event of increased demand. According to the source, currently Tesla program participants have at their disposal batteries with a total capacity of 42 megawatts and they will be enough to provide energy to 31,500 households. Tesla has also received permission to sell electricity directly to consumers in Texas and plans to offer batteries to wholesalers.
As Tesla’s business grows, there are many challenges to tackle, including a shortage of batteries and a shortage of skilled workers. In addition, the company faces stiff competition from large industrial conglomerates and companies like Sunrun Inc. that install solar panels on rooftops.
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