Tesla Responds to Battery Storage Demand, Leaving Utilities in the Dust

Tesla-Solar-Storage

Why Elon Musk’s Batteries Scare the Hell Out of the Electric Company

Bloomberg, December 5, 2014

Here’s why something as basic as a battery both thrills and terrifies the U.S. utility industry.

At a sagebrush-strewn industrial park outside of Reno, Nevada, bulldozers are clearing dirt for Tesla Motors Inc. (TSLA)’s battery factory, projected to be the world’s largest.

Tesla’s founder, Elon Musk, sees the $5 billion facility as a key step toward making electric cars more affordable, while ending reliance on oil and reducing greenhouse gas emissions. At first blush, the push toward more electric cars looks to be positive for utilities struggling with stagnant sales from energy conservation and slow economic growth.

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