Elon Musk Wants To Add Storage Units To Solar Buildings
The first wave of Elon Musk’s Powerwalls have hit the US market, with each $3k, 6.4-kilowatt-hour unit able to store solar energy and provide backup for power outages.
The high costs per unit—which need trained experts for installation and a DC to AC converter—had observers skeptical that solar users would want the wall, especially when they can just sell excess power back to the grid through “net-metering” policies, Bloomberg reports.
But those policies are being phased out, and implementation of new "time-of-use" rate policies (i.e. setting power prices based on demand at the specific time of day) will improve the case for power-storage units, according to Yayoi Sekine, an analyst for Bloomberg New Energy Finance.
The new factory alone will cut the cost of solar batteries by 30%, and it's not the only one of its kind—Tesla’s 1.2M SF factory in Buffalo, NY, will be pumping out 10,000 solar panels a day upon completion. [Bloomberg]