from the report-filled-with-positives-and-negatives dept.
Tesla has switched on "the world's largest battery" in South Australia:
The world's largest lithium ion battery has begun dispensing power into an electricity grid in South Australia. The 100-megawatt battery, built by Tesla, was officially activated on Friday. It had in fact provided some power since Thursday due to demand caused by local hot weather.
South Australia has been crippled by electricity problems in recent times. Tesla boss Elon Musk famously vowed to build the battery within 100 days - a promise that was fulfilled. "This is history in the making," South Australian Premier Jay Weatherill said on Friday. The battery would prevent a repeat of a notorious incident last year where the entire state lost power, Mr Weatherill said.
Mr Musk has described it as three times more powerful than the world's next biggest battery.
The capacity is 129 MWh, and the battery can deliver 100 MW of power.
The record will not stand long. Hyundai is building a 50% more powerful battery system in Ulsan, South Korea.
Also at CNN, The Guardian, and RenewEconomy.
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If Elon Musk can increase Tesla's market value 12-fold in the next 10 years, he may be entitled to a maximum of $56 billion in stock awards (likely lower if more shares are sold to the public). This, along with the ballooning of Musk's existing $12 billion share in his company, and his stake in SpaceX and other companies, could help Musk become a Kardashev I trillionaire alongside Jeff Bezos:
A new payment plan for the CEO was approved by Tesla (TSLA) shareholders Wednesday, a spokesperson confirmed. The incentive-based package essentially states that if Musk hits a series of performance milestones between now and January 2028, and he drives his electric car company's market value 12 times higher — taking it from $54 billion to $650 billion — he'll become astronomically rich.
Now, if Musk does drive a 12-fold increase in Tesla's market value, that doesn't necessarily mean the price of a single share in the company will be 12 times larger. The company can do things like issue new stock that could dilute the value of existing shares. But let's assume Musk's Tesla stock would grow at least 10 times more valuable. That would mean just the shares Musk owns today would be worth $120 billion.
Plus, reaching the agreed upon milestones means Musk would get additional stock awards. According to the new compensation plan, Tesla estimates the value of the stock awards to be $2.6 billion, using accounting methods for estimating the cash value of stock options. But if Tesla's market value balloons just as the payment plan hopes, those stock awards could be worth nearly $56 billion, according to a public filing.
Also at Reuters, Fortune, and CNBC.
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Tesla "big battery" in Australia is becoming a bigger nightmare for fossil fuel power generators
Tesla's "big battery" utility-scale Powerpack system at the Hornsdale Power Reserve [(HPR)] in South Australia has yielded more than doubled[sic] the savings to consumers in 2019 than the year prior as it dominates fossil fuel generators on quicker demand response for the grid.
Hornsdale Power Reserve saved consumers AUD116 million ($75.78 million) in 2019, a big jump from AUD40 million ($26.14 million) savings in 2018.
The Hornsdale Power Reserve, owned and operated by French renewable energy producer Neoen, is home to the largest lithium-ion battery energy storage system in the world with a 100 MW/129 MWh. Tesla Powerpack [that] has been playing a significant role in grid stability since its installation in 2017, a function previously dominated by fossil fuel generators that bring energy prices high during system faults [or] planned maintenance.
"Hornsdale has just been the best asset for the state, and for us as well, it's a real success story," head of development at Neoen Australia Garth Heron said in an interview with RenewEconomy. We have shown that these kinds of systems can work. It saves consumers a lot of money, and it's something we should be rolling out right across the market."
[...]The HPR also announced plans to expand its capacity by 50%, boosting it by 50MW/64.5MWh. The project is expected to be completed in the first half of 2020 and will provide stabilizing inertia services critical to the shift to renewable energy in the region, and help push Australia closer to its goal of being net 100% renewable by 2030.
Previously:
Elon Musk: I Can Fix South Australia Power Network in 100 Days or It's Free
Tesla to Build 129 Megawatt-Hours Battery Storage System in Australia
Tesla Delivers on 100 MW Australian Battery Promise
(Score: 0) by Anonymous Coward on Monday December 04 2017, @01:22PM (1 child)
Is this going to be like the super computer "race" with everyone using different metrics so they look good?
(Score: 2) by bob_super on Monday December 04 2017, @07:33PM
MWh, MW, $/MWh, %loss/year, recyclability ... not too many things to play with.
But if marketing people want to have a "mine's bigger" race, I'll be glad to see more systems come online just for bragging rights! The electric companies won't let them install stuff that doesn't generate profit, and anything that smooths the sunset spike without emissions sounds good.
(Score: 1, Informative) by Anonymous Coward on Monday December 04 2017, @01:28PM (2 children)
caused by your regular mismanagement and greed, just like every other shortage we suffer. Wake up people! You are entitled to good service, but only if you demand it.
(Score: 4, Insightful) by LoRdTAW on Monday December 04 2017, @02:45PM (1 child)
Good luck demanding anything from government granted monopolies. Last I checked I have access to only one gas, water and electric utility. How do I demand better service from a monopoly I have no way to walk away from?
And before you say to go solar and cut the cord, in many jurisdictions you MUST have certain utilities hooked to your home in order for your home to be an acceptable dwelling. Otherwise they can condemn your home and force you out at gunpoint and even confiscate your land if you not comply.
(Score: 3, Funny) by DannyB on Monday December 04 2017, @02:54PM
The reason why government granted monopoly utilities in the US have worked relatively well is because of a magical wonderful word called: regulation.
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The lower I set my standards the more accomplishments I have.
(Score: 0) by Anonymous Coward on Monday December 04 2017, @09:48PM
Duracells.