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Tesla bets high on fixing Australia’s power crisis

Mar 14, 2017, 7:49 AM EDT
Tesla Inc boss Elon Musk
(Source: Tesla Club Belgium/flickr)

Tesla Inc boss Elon Musk recently made a bold bet by offering to set up battery storage worth $25 million in South Australia in just 100 days, adding that the entire installation would be free if he misses the deadline. The daring proposal on social media comes amid frequent power outages in S. Australia, a state that relies heavily on renewable energy.

The government responded in affirmation, with Environment and Energy Minister Josh Frydenberg saying that the authorities look forward to collaborating with companies that present serious proposals about the deployment of more storage, writes Reuters.

The state, with two of its coal plants locked down in last few months, has seen steep rise in prices along with industry-crippling blackouts due to demand-supply imbalance, notes Engadget. Tesla’s battery system can be charged up during low demand phase, and this stored energy can be utilized during spikes, a model that promises to rid the state of its power supply woes.

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