I like musk more and more
At a private shindig in little town called New York City last week, SolarCity CEO Lyndon Rive and Chairman Elon Musk (Lyndon’s cousin and also the CEO, Chief Product Architect, and Chairman of Tesla Motors) made a few casual but potentially world-changing announcements, as is practically a habit with Elon.
Most notably, they stated that SolarCity would be including battery backup systems with every single one of its rooftop solar power systems within 5-10 years. Many of those, but not necessarily all of them, would come from Tesla’s planned gigafactory.
Even with the battery backups, Lyndon and Elon contend that a SolarCity installation will cost less than the price of electricity from the grid!
For Tesla Motors, the leap from a mobile EV battery to a stationary battery package for businesses is a logical move, now that its production costs are on track. Tesla co-founder JB Straubel explains:
The economics and scale that Tesla has achieved in the automotive market now make stationary energy storage more cost effective and reliable than it has ever been in the past. We expect this market to grow very rapidly now that we have crossed this economic threshold.
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