Tesla hopes to start selling batteries in Australia early next year, in a market Morgan Stanley says may be worth $18 billion and where half of all homes are projected to be using solar power by 2040, Bloomberg reports.
Tesla has an announced rival in the home and commercial energy storage market: Daimler AG Tuesday announced it was starting to take orders for batteries that bear the Mercedes brand, International Business Times reports.
Tesla chief Elon Musk, alongside his technology partner JB Straubel, told utility executives this week that his company would like to see battery storage used to help power grids cope with the advent of renewable energy, E&E reports.
The market for home battery systems that cost thousands of dollars is presently very small, The Wall Street Journal reports, noting that Tesla’s Elon Musk and his competitors are banking on swift growth as they push to develop energy storage systems.
NEW YORK (AP) — Elon Musk, the star CEO of the electric car company Tesla Motors and the rocket company SpaceX, staged an elaborate event last month to unveil a new product. Not a sleek new luxury car. Not a rocket that can ferry people to Mars. A home appliance — a battery — that can be mounted on a garage wall and ignored.
The reason for all the excitement is because of what batteries like these might someday do. They may make the electric power grid more robust and able to handle increasing amounts of wind and solar power. In conjunction with rooftop solar systems, batteries may help homeowners reduce their electric bills. And some homeowners, like Mike Thielen — who installed a Tesla battery prototype last year in his Redondo Beach, California, home as part of a state home storage testing program — would like to use them to say goodbye to their electric utility forever.
Tesla Motors' battery plant under construction in Sparks, Nev., is ahead of schedule, CEO Elon Musk told investors Wednesday, as the company plans to begin production of auto and home cells, modules and battery packs by 2016, Bloomberg reports.
Some companies that have backed the Obama administration plan to limit power plant carbon emissions – due to be made public within days -- are pressing for the rule to include provisions for carbon trading, Bloomberg reports.
The journal Geological Society of America Today predicts that coastal changes will cause land in the Washington D.C. area to drop at least 6 inches over the next 100 years, while sea levels in the Chesapeake Bay region have been rising faster than anywhere else on the Atlantic seaboard, the Huffington Post reports.
A judge has handed a victory to Bill Gates’ firm Cascade Investment in its face-off against Blackstone Group, by approving a plan for Optim Energy LLC to emerge from bankruptcy still in control of Cascade, The Wall Street Journal reports.
An unexpected Energy Information Administration report of a stockpile drop has halted oil’s July price slide in its tracks. West Texas Intermediate crude rose 8 cents to $48.87 a barrel early Thursday in electronic trading on the Nymex, while in London Brent gained 39 cents to $53.77, Dow Jones reports.
Despite Miller Energy Resources reporting its net loss soaring to $111 million in the second quarter on falling crude prices, CEO Carl Giesler says the exploration company isn’t planning to file for bankruptcy protection, FuelFix reports.
As Williams Partners reported an increase of its second quarter net income to $300 million, parent Williams Cos. said it’s still evaluating options regarding its future, which include a buyout offer from Energy Transfer Equity or merging its own subsidiaries, FuelFix reports.
Three ski areas operated by New York state – Whiteface, Gore and Belleayre – will be using solar energy under a 25-year power purchase agreement with Borrego Solar announced by Gov. Andrew Cuomo on Wednesday, News10 reports.
Dropping allowable ozone levels would choke off economic growth, according to a letter 269 business groups sent to President Obama Wednesday, in a move organized by the National Association of Manufacturers, The Hill reports.