Tesla’s Mega Battery Saves Australia $40 Million In Its First Year

December 18, 2018 at 1:41 am

Tesla’s enormous battery, installed on a bet, is saving Australians tens millions of dollars a year in back-up energy costs

Just over a year ago, Tesla CEO Elon Musk made a bet with lawmakers in South Australia that he could build them a battery big enough to back up the entire region’s power supply in 100 days or he’d give it to them for free.

54 days later, he delivered the world’s largest lithium ion battery, capable of providing emergency energy services faster and cheaper than the former fossil fuel-powered systems.

In its first year, Tesla’s “powerpack” has already saved the citizens of South Australia $40 million, according to a new report commissioned by Neoen, the energy company that manages the massive battery.

That’s a 75% reduction in annual back-up energy costs compared to 2016 and 2017.

The battery, powered by wind turbines, creates zero carbon emissions.

In addition to being a cheaper than the previous fossil-fuel-dependent backup system, it’s also capable of responding to power outages in a matter of milliseconds, while old backup systems took much longer.