SolarCity Sees Energy Storage ‘Viable’ Within 10 Years, CEO Says
Elon Musk is CEO SpaceX, CEO Tesla Motors, Chairman Solar City. SpaceX made history as the world’s first privately held company to send a cargo payload to the International Space Station. Tesla builds electric vehicles and its Model S is Motor Trend 2013 Car of the Year. Solar City is one of the largest solar manufacturers and installers in the U.S., and provides the solar panels and installation for Tesla’s free charging stations.
Now Tesla is providing SolarCity with batteries for their energy storage product. SolarCity already has 395 energy storage “pilots” under contract. SolarCity CEO Lyndon Rive says storage will be viable in 10 years and that “We will solve the storage issue.”
Given the technological and business success of SpaceX, Tesla, and SolarCity, do you want to bet against their storage success?
SolarCity Sees Energy Storage ‘Viable’ Within 10 Years, CEO Says – Businessweek
“It’ll be a viable product in the next ten years,” SolarCity CEO Lyndon Rive said today in an interview in San Francisco. “We don’t know yet how big the next phase is going to be, but this is a long term investment, full stop,” he said. “We will solve the storage issue.”
The San Mateo, California-based company is installing 8 kilowatt-hour battery packs provided by Tesla Motors Inc. (TSLA) and combining them with energy management systems that allow for remote monitoring. Storage will be crucial to balance the U.S. electric grid as solar expands from 1 percent of total generation capacity today, according to Rive.