Renewable Energy News
2/5/2018 6:47:27 PM -
It's good to stay ahead of technology changes and MarketWISE is doing just that.
The article below titled “Australia’s Tesla Solar Battery Turns a Profit” (written by Andy Probert), reports how Tesla recently built a Mega Battery and how it is proving to not only be effective at stabilizing the grid, but also profitable. With the success of this project, Tesla has been signed to build additional Mega Batteries. With greater adoption, these storage facilities could solve major hurdles with the modern grid and make renewable energy at a large scale much more feasible. This couldincrease demand for more states to roll out large scale solar and wind capabilities such as Maryland's community solar. As this occurs, rest assured, MarketWISE will be here to let you know how this will impact your day to day operations.
Australia’s Tesla Solar Battery Turns a Profit
The world's biggest Powerpack battery shows that solar isn't just sustainable, but economically viable too.
By Andy Probert - Published: January 25, 2018
The world’s biggest lithium-ion battery absorbed excess electricity on the South Australian grid, and resold it on the power market for around $810,000. Tesla's Powerpack Project only came on stream in December, but on two occasions it has already stepped up to save the grid — and help its owners turn a quick profit. Based on the Hornsdale Power Reserve in South Australia , the 100 MW battery system went live on December 1, 2017, and 14 days later sparked into action to keep the grid running smoothly when a coal plant tripped.
The $50 million battery is part of a collaboration between Tesla, the South Australian Government and renewable energy company Neoen. Of the 100MW capacity, 70MW is reserved for the South Australian Government to use. The other 30MW is left to Neoen to use and sell on the wholesale market.
On January 13, the Powerpack was paid around $790/MWh to soak up excess electricity from the power grid and store for later use. It has transpired that, based on estimates revealed by Renew Economy, Neoen sold the electricity back on the open market over January 18 and 19 for around $11,000/MWh. Renew Economy based its estimate on power input and outage from the Power Reserve and the wholesale price.
Supply and demand for electricity have to be matched at all times, but when supply exceeds demand, the Tesla Powerpack comes into its own to store the excess as other forms of renewables may not be reliable.