Elon Musk has never been one to shy away from a bold and disruptive strategy, from his startup of PayPal through SpaceX to Tesla Motors (NASDAQ:TSLA). With his recent announcement of Powerwall, Tesla’s introduction into the commercial battery/power storage market, Musk is embarking on a strategy to make renewable energy a more mainstream technology.
Costs of solar panels have been coming down for some time to where they can begin to challenge coal and gas-fired plants on a cost per kilowatt-hour (kWh) basis and solar infrastructure costs are also trending down significantly. The “missing piece” of the renewable energy picture is a reliable way to store the energy and
balance out the demand issue — solar energy is only available during daylight hours and peak demand never matches up with peak generation. That makes most consumers of solar energy still reliant on the power grid.
Residential solar power is installed and wired into the grid, allowing the power company to regulate the flow based on need (and set up a suitable metering and billing method, as well). A large enough storage system could make homes fully independent of the grid. Powerwall is a first step in that direction….. READ MORE HERE