Quantcast
Business

Elon Musk's Tesla Battery So Popular It Sold Out Through 2016

Demand for Tesla Energy's revolutionary battery "has been crazy," according to the company's founder and CEO Elon Musk. Yesterday, in a second quarter earnings call, Musk revealed there have been more than 100,000 reservations (roughly worth $1 billion) of the rechargeable lithium-ion batteries, which have sold out through 2016.

While Tesla is mostly known for its auto industry-disrupting electric cars, the company isn't shy about wanting to wean the world off of fossil fuels through its suite of batteries as well. The Powerwall offers homes and small businesses the means to use and store energy generated from residential solar panels or when utility rates are low. The larger Powerpack (for large businesses and utilities) allows battery owners to store excess energy on site, or as Forbes contributor Jeff McMahon explained in a report, the "batteries allow utilities to store energy when demand is low and use it when demand is high, without turning on more power plants."

As Musk boasted during his call, "You can basically, in principle, shut down half of the world’s power plants if you had stationary storage."

With the battery, utilities no longer need to build power plants to meet peak demand, McMahon added.

“The fundamental economics of cost are always true, meaning there’s always a cost advantage of system-wide implementation of stationary storage because of high peak to trough of electricity usage,” Musk said.

The energy stored by Tesla's batteries doesn't necessarily have to come from renewables, Musk pointed out. "It seems like people link this too much to renewable energy,” he said. “Of course we are great believers in renewable energy, but that is not the gating function for stationary storage.”

Chief technical officer JB Straubel reported during the call that 70 percent of the battery reservations have been for the Powerpack and 30 percent for the Powerwall.

Musk also said his company plans to sell $40-$50 million in batteries in the fourth quarter and will ramp up battery production (undoubtedly at Tesla's massive Gigafactory in Nevada once it's complete) in the coming years to meet the predicted demand.

“It’s probably at least a few billion dollars in 2017,” Musk said.

Watch Musk's Powerwall keynote in the video below.

YOU MIGHT ALSO LIKE

13 Top U.S. Companies Pledge $140 Billion to Slash Carbon Emissions

World’s Largest Solar Project and Floating Wind Turbine Signal Global Shift to Renewable Energy

5 Islands Leading the Charge Toward 100% Renewable Energy

Show Comments ()
Sponsored
Sunrise in Brabec, Czech Republic. Luna y Valencia / Flickr

New Study ‘Reduces Uncertainty’ for Climate Sensitivity

By Daisy Dunne

The latest assessment report from the Intergovernmental Panel on Climate Change (IPCC) estimates that climate sensitivity has a "likely" range of 1.5 to 4.5°C.

The new study, published in Nature, refines this estimate to 2.8°C, with a corresponding range of 2.2 to 3.4°C. If correct, the new estimates could reduce the uncertainty surrounding climate sensitivity by 60 percent.

Keep reading... Show less
TAFE SA TONSLEY / Flickr

Worldwide Clean Energy Investments Hit $333.5 Billion Last Year

Global investment in renewable energy hit $333.5 billion in 2018, the second-highest on record, according to a new analysis from Bloomberg New Energy Finance (BNEF).

That's a 3 percent jump from 2016 and 7 percent short of the $360 billion record set in 2015.

Keep reading... Show less
Renewable Energy

How Blockchain Could Boost Clean Energy

By Jeremy Deaton

Bitcoin, the much-hyped cryptocurrency, made headlines recently for driving a surge in power use. Around the globe, digital entrepreneurs are 'mining' bitcoins by solving complex math problems, using supercomputers to get the job done. Those supercomputers use a ton of power, which largely comes from coal- and gas-fired power plants spewing gobs of carbon pollution.

But while hackers wreak havoc on the climate, blockchain, the bleeding-edge technology behind bitcoin, could one day help clean up the mess. Climate wonks say blockchain has a role to play in the clean-energy economy, helping homeowners sell electricity, allowing businesses to trade carbon credits, and making it easier for governments to track greenhouse gas emissions.

Keep reading... Show less
Abdallah Issa / Flickr

Post-Fire Landslide Problems Likely to Worsen: What Can Be Done?

By Lee MacDonald

Several weeks after a series of wildfires blackened nearly 500 square miles in Southern California, a large winter storm rolled in from the Pacific. In most places the rainfall was welcomed and did not cause any major flooding from burned or unburned hillslopes.

But in the town of Montecito, a coastal community in Santa Barbara County that lies at the foot of the mountains blackened by the Thomas Fire, a devastating set of sediment-laden flows killed at least 20 people and damaged or destroyed more than 500 homes. In the popular press these flows were termed "mudslides," but with some rocks as large as cars these are more accurately described as hyperconcentrated flows or debris flows, depending on the amount of sediment mixed with the water.

Keep reading... Show less
Sponsored
The most notable observation from the count was DeMartino's sighting of the golden crowned kinglet, but in general volunteers found the same species they normally do. (Photo above is of a golden crowned kinglet, but not the one DeMartino spotted.) Melissa McMasters

Birders Get a First Look at How 2017 California Wildfires Affected Wildlife

By Matt Blois

A neighbor knocked on Rick Burgess's door at about 9:30 p.m. to tell him a fire was coming towards his home in Ventura, California. When he looked outside he saw a column of smoke, and the hills were already starting to turn orange. He loaded up his truck with a collection of native plants he was using to write a countywide plant guide, and barely had enough time to get out.

Keep reading... Show less
A learning garden from Kimbal Musk's nonprofit called Big Green. The Kitchen Community

Elon Musk's Brother Wants to Bring #RealFood to 100,000 Schools Across America

Kimbal Musk's nonprofit organization, The Kitchen Community, is expanding into a new, national nonprofit called Big Green, to build hundreds of outdoor Learning Garden classrooms across America.

Learning Gardens teach children an understanding of food, healthy eating and garden skills through experiential learning and garden-based education that tie into existing school curriculum, such as math, science and literacy.

Keep reading... Show less
Sponsored
Drilling fluids spilled into Ohio wetlands during construction of the Rover Pipeline in April. Sierra Club

Rover Pipeline Spills Another 150,000 Gallons of Drilling Fluid Into Ohio Wetlands

Energy Transfer Partners' troubled $4.2 billion Rover pipeline has spilled nearly 150,000 gallons of drilling fluid into wetlands near the Tuscarawas River in Stark County, Ohio—the same site where it released 2 million gallons in April.

The 713-mile pipeline, which will carry fracked gas across Pennsylvania, West Virginia, Ohio and Michigan and Canada, is currently under construction by the same Dallas-based company that built the controversial Dakota Access pipeline.

Keep reading... Show less

Large Dams Fail on Climate Change and Indigenous Rights

Brazil has flooded large swaths of the Amazon for hydro dams, despite opposition from Indigenous Peoples, environmentalists and others. The country gets 70 percent of its electricity from hydropower. Brazil's government had plans to expand development, opening half the Amazon basin to hydro. But a surprising announcement could halt that.

Keep reading... Show less
Sponsored

mail-copy

The best of EcoWatch, right in your inbox. Sign up for our email newsletter!