Business

Rapid, Accurate and Valuable: This is How the Australia Energy Market Operator Praised Tesla’s battery System

Tesla is all set to start a new massive energy storage project after the huge success of its Powerpack system in Australia.

Though the project is considered overvalued by a lot of high-profile federal level critics as well as the individuals in South Australian government, the AEMO (Australia Energy market Operator) are appreciating the performance of the newly introduced systems.

Since the beginning of its operation in December, 100MW/129MWH the powerpack project by Tesla in South Australia is showing its capacity and now the largest energy storage in world. The need of this project arises due to high cost of electricity rates which is about to reach at $14000 per MW at the time of FCAS tenure.

With this project Tesla offers the same services at cost-effective or even cheaper, with zero-emission and quicker manner with its battery system. The system proves so efficient that it is predicted that it would touch the $1 ml. mark in January, but the company complained that they are not being paid properly, as they themselves were not sure about the efficiency of their Powerpack project.

Besides being so efficient the Australian Government official found to be a little more reluctant towards using this technology. They even have compared the Tesla with Kim Kardashian. They said that the machine has overhyped by some of the people, but it is not as good as its name.

Even though, there are many businesses who started to introduced this system just because of its performance which is actually an asset for their business. Tesla is all set to begin their new project for energy storage as they have already secured the funding of $25 million.

In future, Tesla is planning to have around 50K home virtual power plants, which represents to more energy storage capacity.

About the author

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Shivangi Mehra

Shivangi holds a degree in Masters in Business Administration, from S. P. Jain Institute of Management and Research College, in the field of business and finance. She has been active in industry since 6 years, and has written for various well known publications as well. Her articles have been featured several times in regional news and as global tech news. Her unique style of writing, and in-depth analysis skills regarding the past trends and upcoming scope of opportunities makes her a perfect choice for her designation as an Editor for Latest Industry News.

Email: shivangi.m@latestindustrynews.com

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