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Elon Musk Lauds Tesla’s Powerwall against the Backdrop of PG&E Problems

UTC by Daria Rud · 3 min read
Elon Musk Lauds Tesla’s Powerwall against the Backdrop of PG&E Problems
Photo: NVIDIA Corporation / Flickr

Elon Musk has taken advantage of the problem with an aging U.S. power grid and used it in advertising Tesla’s Powerwall product. 

This year, Pacific Gas & Electric (PG&E), an American company that provides natural gas and electric service to approximately 16 million people throughout a 70,000-square mile service area in northern and central California, declared their bankruptcy and admitted their blame on a number of forest fires and problems with power.

Recently, during the California Public Utilities Commission meeting, the company’s CEO Bill Johnson stated that California can expect blackouts for the next decade and said that PG&E is striving to reduce wildfires by trimming more trees and utilizing technology to target smaller grid areas when fire dangers require power outages.

Elon Musk, a legendary entrepreneur and CEO of Tesla, has taken advantage of the problem with an aging U.S. power grid and used it in advertising Tesla’s new product: Powerwall battery charged by solar energy.

According to Elon Musk, there should be “no more relying on the state for your home electricity needs”. He explained that PG&E is a prime example of how fire danger and outdated infrastructure may lead to the loss of liability that reaches billions of dollars.

About Tesla’s Powerwall

Powerwall is a rechargeable lithium-ion battery developed by Tesla in 2015. Powerwall integrates with solar to store excess energy generated during the day and makes it available when you need it, minimizing reliance on your utility. The battery, priced at $3,000, immediately gained traction. As of May 2015, Tesla Powerwall sold out through to the middle of 2016, with reservations within the first few weeks accounting over 50,000 units (US $179 million).

The company’s website reads:

“Powerwall can detect an outage, disconnect from the grid, and automatically restore power to your home in a fraction of a second. You will not even notice that the power went out. Your lights and appliances will continue to run without interruption. If you have solar and Powerwall, then solar energy will continue to power your home and recharge Powerwall. Without Powerwall, solar will shut down during an outage.”

Powerwall is a completely automated system that installs easily and requires no maintenance. The battery can be easily installed on the wall, or users can stack up to ten Powerwalls together on the floor.

Despite being an excellent example of how solar energy can be beneficial for owners of electric cars and provide a good solution for charging your Model S, 3 or X, Powerwall poses some issues that are not pondered initially.

An extremely high cost of any Tesla model is not a secret, and Powerwall will not come cheap as well. Paul from the popular “Paul’s Hardware” YouTube channel has made some rough estimates according to which it will take about 11 years to pay off his $32,000 solar panels and battery pack after suffering through lengthy installation delays, though he can benefit from tax credits.

Business News, Market News, News, Technology News
Daria Rud
Author Daria Rud

Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.

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