Elon Musk has promised worldwide that Tesla can build and install 129 MWh of grid energy storage batteries in South Australia in 100 days or less in 2017. If Tesla did not end up in the end The deadline to complete, the battery will be free. In fact, Tesla broke through their deadline in late November to complete the installation a few weeks ahead of schedule.
Now, Hyundai Motor Co. said it plans to build and install a 50% larger grid storage facility near Ulsan on the southeastern coast of South Korea than planned in February next year.
Ali Asghar, senior partner at Bloomberg New Energy Finance, said the drop in battery prices is driving a substantial increase in battery energy worldwide and said: "Musk has set the benchmark for the speed at which this size battery is installed and commissioned. Batteries have become the mainstream choice for energy storage applications in many parts of the world and larger projects than Tesla are under construction.
Industry analysts expect storage battery prices to continue declining in the coming years, and they also believe Tesla's rivals will be able to move quickly to install large storage batteries.
However, Saul Kavonic, an analyst with Wood Mackenzie Consulting in Perth, Australia, said speed has less to do with utility companies than bottom line, after all, 10 or more years to complete a new NPP approval process.
The main cost advantage of energy storage cells lies not in the price of the battery, but rather in the cost savings of not building and operating a so-called 'peak' power plant that only lasts for a few hours a day, without the need to purchase a battery with a 30-year or longer life In the long run, this will add substantial capital to the fuel for peak equipment, making the upfront costs of a battery backup system more susceptible to swallowing.