Tesla is one of the most famous and innovative car manufacturing and energy companies. It is an American company founded in 2003 with its headquarters in Palo Alto, California. The company was incorporated by Martin Eberhard and Marc Tapenning. Elon Musk, who is a current CEO and the owner of 21% of the company’s shares, joined the company in 2004. Tesla first gained world attention in 2008 after the release of the Tesla Roadster, which was the first electric sports car.
Nevertheless, the majority know Tesla for its electric cars, the company also specializes in the development and production of solar panels and Lithium-ion batteries. Moreover, it is one of the leading companies in the development of alternative batteries. Currently, electric cars utilize Lithium-ion batteries, which makes the cost of the vehicles greater. Not only are they expensive to produce, but they are also difficult to recycle. Consequently, Tesla invested in batteries, which will use cobalt instead of lithium in the production. However, this invention is still underway as there is limited availability of cobalt and batteries have not been implanted anywhere yet.
Australia is one of the largest coal producers and it derives 40% of its energy from coal. However, as countries around the world move towards less CO2 emissions and cleaner energy, Australia is looking for alternatives as well. The country’s electricity generation from hydro is just 5%, followed by 2% wind and the sun less than 1%. The Australian Government has a target to reduce green gas emissions by 25% by 2030. Consequently, with its vast potential to utilize solar energy, Australia is intending to develop it.
Solar new technology will be used by Tesla to build the largest power plant, which will produce green energy. South Australia has around 224 days with sun and solar energy is a convenient source of energy for this region. The South Australian Government is planning to build the largest virtual power plant by rolling out solar panels and Tesla batteries to more than 50,000 houses in South Australia. The Government is intending to complete the project in four years. The energy generated from the solar panels will be stored on the Tesla batteries and is intended to cover 20% of the state’s daily energy requirements Moreover, the excess energy will be fed back to the grid and utilized, when necessary.
The power plant is intended to generate 250MW of energy at 250MW, which is planned to decrease the cost of electricity by 30%. A lot of people have already registered to participate, to be exact 6,500 people have already registered. Moreover, the participant will not need to cover the costs of the implementation of the solar panels, because it will be covered from the revenue made from the sales of the electricity. Many green energy sources have been criticized for not generating vast amounts of energy. However, according to Tesla, the power plant will generate the same amount of energy as a large gas turbine or coal power plant.
The power plant will be located in South Australia with Powerpacks in Horndale. Moreover, Tesla will build a service hub to maintain the powerplant in Adelaide’s innovation district Tonsley. This will allow the technicians to restore power to the homes within seconds in cases of technical issues.
The program will be funded by the AU$2 million grant and AU$30 million loans from a state-funded technology fund. The project has a total value of AU$800 million, which will be derived from the investors. With the initial trial almost completed, the new power plant could be the first step for Australia to move away from coal towards green energy sources.