• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login

    Investing News NetworkYour trusted source for investing success

    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Battery Metals Market
    Battery Metals News
    Battery Metals Stocks
    • Battery Metals Market
    • Battery Metals News
    • Battery Metals Stocks
    lithium investing

    Elon Musk Unveils Tesla Energy

    Teresa Matich
    Apr. 30, 2015 11:00PM PST
    Battery Metals

    On Thursday night, Tesla Motors (NASDAQ:TSLA) announced its suite of new rechargeable batteries under the name Tesla Energy, confirming a much anticipated expansion into energy storage.

    For Tesla Motors (NASDAQ:TSLA) CEO Elon Musk, eliminating dependence on fossil fuels is not outside the realm of human possibility. On Thursday night, Tesla announced its much anticipated suite of new rechargeable batteries under the name Tesla Energy, confirming the company’s expansion into energy storage.

    “Tesla is not just an automotive company,” the company said in a statement. “it’s an energy innovation company. Tesla Energy is a critical step in this mission to enable zero emission power generation.”

    First up was the Tesla Powerwall Home Battery, “a rechargeable lithium-ion battery designed to store energy at a residential level.” Among other things, the battery can store solar surplus solar energy for later use, and can charge during low rate electricity periods and discharge during hours when rates get more expensive.

    Musk also suggested that the batteries would be effective in remote parts of the world or in areas without electricity, as they would to some extent remove the need to install power lines.

    The batteries will cost $3000 to $3500, and Tesla says that deliveries will begin late this summer.

    Tesla is also going beyond home batteries with what Musk called the power pack. He stated that the Powerwall would be effective for home and small commercial outfits, but that something more might be needed for larger applications.

    “The Tesla power pack is designed to scale infinitely, so you could literally make this into a gigawatt-hour-class solution,” he said, stating that one utility has already expressed an interest in a 250 megawatt-hour installation using power packs.

    Meanwhile, companies such as Amazon (NASDAQ:AMZN) and Target (NYSE:TGT) have partnered with Tesla for the use of its batteries, while utilities such as Advanced Microgrid Solutions and Southern California Edison (NYSEMKT:SCE-E) are also working with Tesla.

    Certainly, all of those batteries will require plenty of lithium, graphite and cobalt.

    And Musk is dreaming even bigger. “With 160 million power packs, you can transition the United States [to renewable energy],” he said on Thursday night. “With 900 million you can transition the world.”

    That’s a lofty goal, but Musk said that Tesla’s current project in Nevada is just “gigafactory version one,” and that “there will need to be many gigafactories in the future.”

    Furthermore, he made it clear that Tesla’s policy of open-sourcing its patents would continue with regards to its home batteries, larger scale batteries, and even for its gigafactory.”There’s going to be many other companies building gigafactory class operations of their own. And we hope they do,” Musk said.

    In any case, that certainly sounds like good news for lithium, graphite and cobalt demand. Stay tuned for more on the announcement.

     

    Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

     

     

    nasdaq:tslatesla motorslithium investingunited stateselon musk
    The Conversation (0)
    Go Deeper
    AI Powered
    Graphite Supply Needs to Increase Nearly 500 Percent by 2050

    Graphite Supply Needs to Increase Nearly 500 Percent by 2050

    Infographic: The Cathode is the Key to Advancing Lithium-ion Technology

    Infographic: The Cathode is the Key to Advancing Lithium-ion Technology

    Latest News

    Incentive Regime for HMW Project in Argentina

    FPX Nickel Provides Update on Normal Course Issuer Bid

    EUR Sells 0.5m CRML Shares for U$1.8m (A$2.7m)

    Trading Halt

    Large High Grade Rubidium Resource Identified at Seymour

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Battery Metals Stocks

    International Lithium Corp.

     
    ILC:CA

    Metals Australia

     
    MLS:AU

    Lithium Africa

    Atlantic Lithium

     
    A11:AU

    Galan Lithium

     
    GLN:AU

    Jindalee Lithium

     
    JLL:AU
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×