Tesla's US$169m Australia battery play is a global prototype
New York
TESLA is ready to power some grids. And not just in California or Australia.
Last week, Elon Musk wagered he could address South Australia's energy crisis with 100 megawatts (MW) of batteries installed in 100 days or less - "or it's free." The exchange blew up on Twitter and led to phone calls between Mr Musk and leading Australian politicians, including Australia Prime Minister Malcolm Turnbull.
An analysis by Bloomberg New Energy Finance (BNEF) finds that such a deal wouldn't only alleviate South Australia's blackouts, but would be profitable - at an anticipated cost of roughly US$169 million. Battery prices are tumbling fast - by almost half just since 2014 - and such mega projects are increasingly popping up around the world. More on that below. But…
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