Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

Hyundai to Leapfrog Tesla With World's Largest Battery

Renewable Energy
Hyundai to Leapfrog Tesla With World's Largest Battery
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."

One report in spring 2020 found that 38% of students at four-year universities were food-insecure. Frederic J. Brown / AFP / Getty Images

By Matthew J. Landry and Heather Eicher-Miller

When university presidents were surveyed in spring of 2020 about what they felt were the most pressing concerns of COVID-19, college students going hungry didn't rank very high.

Read More Show Less

EcoWatch Daily Newsletter

Coast Guard members work to clean an oil spill impacting Delaware beaches. U.S. Coast Guard District 5

Environmental officials and members of the U.S. Coast Guard are racing to clean up a mysterious oil spill that has spread to 11 miles of Delaware coastline.

Read More Show Less

Trending

Plain Naturals offers a wide variety of CBD products including oils, creams and gummies.

Plain Naturals is making waves in the CBD space with a new product line for retail customers looking for high potency CBD products at industry-low prices.

Read More Show Less
What happened to all that plastic you've put in the recycling bin over the years? Halfpoint / Getty Images

By Dr. Kate Raynes-Goldie

Of all the plastic we've ever produced, only 9% has been recycled. So what happened to all that plastic you've put in the recycling bin over the years?

Read More Show Less
Donald Trump and Joe Biden arrive onstage for the final presidential debate at Belmont University in Nashville, Tennessee, on Oct. 22, 2020. JIM WATSON / AFP via Getty Images

Towards the end of the final presidential debate of the 2020 election season, the moderator asked both candidates how they would address both the climate crisis and job growth, leading to a nearly 12-minute discussion where Donald Trump did not acknowledge that the climate is changing and Joe Biden called the climate crisis an existential threat.

Read More Show Less

Support Ecowatch