Tesla CEO Elon Musk introduced in 2015 that the electric-vehicle firm could be stepping into the vitality enterprise. Now, it is beginning to take off. On its This fall 2020 earnings name, the corporate mentioned its battery deployments elevated 83% in 2020, notably due to the recognition of the Megapack, which shops vitality for utilities.
Renewable vitality similar to photo voltaic and wind want battery storage for when the wind is not blowing and the solar is not shining. As nations all over the world set targets to transition to renewables, demand for these large-scale storage techniques is on the rise. Grid-scale battery storage is predicted to change into a $15 billion market by 2027, based on Grand View Research.
CNBC visited PG&E’s Tesla Megapack web site in Moss Landing, California, and discovered why vitality storage techniques like Tesla’s could possibly be in every single place in a way forward for renewable energy. Watch the video for a glance inside Tesla’s vitality enterprise.
