Quantcast

Hyundai to Leapfrog Tesla With World's Largest Battery

Renewable Energy
150-megawatt energy storage system (ESS) for Korea Zinc. Hyundai Electric

South Korea's Hyundai Electric & Energy Systems will soon complete a massive lithium ion battery in the industrial city of Ulsan.

When it goes live in three months, Hyundai's 150-megawatt system will overtake Tesla's 100-megawatt facility in South Australia as the world's largest industrial energy storage system, Independent.ie reported. Sorry, Elon Musk.


It's an exciting—albeit geeky—race to help the planet wean off environmentally harmful fossil fuels. That's because if we want to accelerate the world's renewable energy transition, we'll have to modernize the energy grid and much of that depends on energy storage technology.

Tesla famously built its ginormous battery within 100 days after Australian billionaire Mike Cannon-Brookes dared Musk to help fix the South Australian's electricity woes. The system, which is connected to Neoen's Hornsdale wind farm, has exceeded expectations after switching on about a year ago. The lightning-fast system has saved about $40 million in grid stabilization costs, prevented blackouts and helped restore confidence in the state's energy resources, the Australian Financial Review noted.

Hyundai's $45 million battery is being built for the metal smelting company KoreaZinc, which intends to be energy self-sufficient and wants to reduce electricity costs, according to Climate Action. The company estimates it will save almost $60 million in electricity expenses over the next three years once the facility is built. KoreaZinc is also complying with the South Korean government's larger efforts to boost renewables and mitigate air pollution, the publication added.

These large-scale projects are enabled by less expensive battery prices, with prices dropping by almost half since 2014, according to Bloomberg.

Other entrepreneurs are joining in the big battery race, including billionaire Sanjeev Gupta's SIMEC ZEN Energy, which plans to build a 120-megawatt battery near Adelaide. Tesla is also vying to build another giant Powerpack system in Colorado for Xcel Energy Inc., an electric utility operating in eight Western and Midwestern states.

Bloomberg New Energy Finance (BNEF) estimated that developers announced 1,650 megawatts per hour of new lithium-ion battery projects in 2017, four times the amount for all of 2016.

"Musk has set a benchmark on how quickly you can install and commission a battery of this size," Ali Asghar, a BNEF senior associate, said in a Bloomberg interview.

Falling costs are "making them a compelling mainstream option for energy-storage applications in many areas around the world, and projects even bigger than Tesla's are now under construction."

EcoWatch Daily Newsletter

Bumblebees flying and pollinating a creeping thyme flower. emeliemaria / iStock / Getty Images

It pays to pollinate in Minnesota.

Read More Show Less
Aerial view of icebergs on Arctic Ocean in Greenland. Explora_2005 / iStock / Getty Images

The annual Arctic thaw has kicked off with record-setting ice melt and sea ice loss that is several weeks ahead of schedule, scientists said, as the New York Times reported.

Read More Show Less
Sponsored
Sled dog teams pull researchers from the Danish Meteorological Institute through meltwater on the Greenland ice sheet in early June, 2019. Danish Meteorological Institute / Steffen M. Olsen

By Jon Queally

In yet the latest shocking image depicting just how fast the world's natural systems are changing due to the global climate emergency, a photograph showing a vast expanse of melted Arctic ice in Greenland — one in which a pair of sled dog teams appear to be walking on water — has gone viral.

Read More Show Less
CAFOs often store animal waste in massive, open-air lagoons, like this one at Vanguard Farms in Chocowinity, North Carolina. Bacteria feeding on the animal waste turns the mixture a bright pink. picstever / Flickr / CC BY-ND 2.0

By Tia Schwab

It has been almost a year since Hurricane Florence slammed the Carolinas, dumping a record 30 inches of rainfall in some parts of the states. At least 52 people died, and property and economic losses reached $24 billion, with nearly $17 billion in North Carolina alone. Flood waters also killed an estimated 3.5 million chickens and 5,500 hogs.

Read More Show Less
Members of the NY Renews coalition gathered before New York lawmakers reached a deal on the Climate and Communities Protection Act. NYRenews / Twitter

By Julia Conley

Grassroots climate campaigners in New York applauded on Monday after state lawmakers reached a deal on sweeping climate legislation, paving the way for the passage of what could be some of the country's most ambitious environmental reforms.

Read More Show Less
Sponsored
In this picture taken on June 4, an Indian boatman walks amid boats on the dried bed of a lake at Nalsarovar Bird Sanctuary, on the eve of World Environment Day. Sam Panthaky / AFP / Getty Images

By Julia Conley

Nearly 50 people died on Saturday in one Indian state as record-breaking heatwaves across the country have caused an increasingly desperate situation.

Read More Show Less
A man carries a poster in New York City during the second annual nationwide March For Science on April 14, 2018. Kena Betancur / Getty Images

By Will J. Grant

In an ideal world, people would look at issues with a clear focus only on the facts. But in the real world, we know that doesn't happen often.

People often look at issues through the prism of their own particular political identity — and have probably always done so.

Read More Show Less

YinYang / E+ / Getty Images

In a blow to the Trump administration, the Supreme Court ruled Monday to uphold a Virginia ban on mining uranium, Reuters reported.

Read More Show Less