Tesla Battery Installed in South Australia Saved the Region $40 Million In its First Year
Tesla’s Australia battery project is garnering global recognition and forcing companies to rethink the traditional energy power plants structure.
The Tesla 100MW/129MWh powerpack project in South Australia proved to pay some dividends or at the very least save tens of millions of dollars according to a recent report, again delivering on a promise made by the eccentric founder Elon Musk.
For the uninitiated, last year Elon Musk promised to deploy a massive 100 MWh battery to the South Australian government. What proved to be an ambitious plan proved to be very beneficial to the Australian people.
This region suffered from countless blackouts and with Tesla’s super-powered battery they were able to easily solve the problem all within 100 days.
Tesla will get the system installed and working 100 days from contract signature or it is free. That serious enough for you?— Elon Musk (@elonmusk) March 10, 2017
As the world’s largest Li-ion problem Tesla described the problem last year stating:
“It will help solve power outages, reduce intermittencies and manage summertime peak load to support the reliability of South Australia’s electrical infrastructure, providing enough power for more than 30,000 homes—approximately equal to the number of homes that lost power during the blackout period last year”
So how is Tesla's project doing right now?
Cheap Energy, Big Savings
The owner of the Tesla’s battery system recently released a report stating that within its first 12 months of operations the Li-ion battery system saved approximately $40 million.
To put that into perspective the Tesla battery offers South Australia the same energy services as the surrounding plants but quicker, and with zero emissions.
In fact, the system is so efficient it actually made $1 million upon its first days of operation. Again, the entire project cost Tesla only $66 million meaning, within less than a second year, this battery project will basically pay for itself.
As stated last year by South Australian Premier Jay Weatherill, “This project sends the clearest message that South Australia will be a leader renewable energy with battery storage”.
If anything this statement is proving to be very true as news of the huge success of the Tesla battery project spreads.
The team contracted to look into the efficiency of Tesla's battery system was global infrastructure and advisory company Aurecon.
As stated in the report, the new technology could have a host of benefits that include improved energy stability and the reduction of wholesale prices.