South Australia’s Giant Lithium-ion Battery Earned $1M This Month

With just a couple days, the battery project could have made about $1 million through the electricity wholesale market.

Tesla’s South Australian Powerpack Project is proving to be an exceptionally wise investment for Tesla CEO Elon Musk as reported by IFL Science.

The battery can earn money by holding excess electricity. In collaboration with the South Australian government and energy firm Neoen, Tesla can profit by soaking up excess energy and storing it for emergency use. Earlier this month, Electrek also estimated that Tesla managed to earn $790/MWh to absorb excess power from the national grid.

Click here to read the full story on IFL Science

Cheap Solar

Written by Jon Capistrano

Jon specialises in research and content creation for our outreach campaigns. He’s worked as a technical support representative for Dell, America Online, Xbox and Dodo Australia. He’s an avid scooterist and musician.

Leave a Reply

Your email address will not be published. Required fields are marked *

British Billionaire Sanjeev Gupta Is Bidding To Make Electric Cars in Australia

More Wind Farms Means More Jobs in Australia