Tesla CEO Elon Musk Looks to Transform Future

CEO Elon Musk’s power storage ideas and rockets are capable of transforming the lives of millions of human beings

As far as grabbing headlines is concerned with future visions, a handful of people can beat investor and entrepreneur Tesla CEO Elon Musk. He is the founder of the rocket company SpaceX, which he looks as a vehicle to fulfill his dream of turning Mars into a colony. Well-known, perhaps, are his Tesla electric vehicles, a quite common sight in the United States and Britain.

While fast vehicles as well as powerful rockets may be Elon’s most exciting products, his hopes to transform the life humans are living will more probably be delivered by Tesla Powerwall, which is quite prosaic. Very less than splendid than other concepts of Elon, this white plain battery, aimed to harness power from renewable energy sources like sun and wind and offer it for household consumption or supplying back to the power grid, could have had a comparatively larger impact than everything else the tycoon has envisioned.

The idea behind these batteries in houses- which are jointly working as a “distributed grid”- is that they will store inexpensive power produced when low levels of demand are there, they supply it in peak hours when power from the conventional network mainly supplied by huge power producing stations is costly. Not just do these batteries- called as “behind the meter” storage- improve the prospect of cutting down the power costs of households by optimizing times in which they receive electricity, they could reduce further their bills by selling excessive energy back to the grid at times when the demand has reached high levels.

They also could offer an emergency back-up provided that the main network fails. There are other wider benefits to the power system. Having batteries in all homes resolves the problem of wind as well as solar farms generating power when there isn’t any demand for it as well as nowhere to store it and they also could ease the present burden on the network, as energy is supplied from huge energy stations.

Perhaps most significantly, they could cut down the reliance of the world on fossil fuels by permitting green power sources to be entirely utilized without the concern of the wind falling or the sun being covered by clouds. The entire concept might look like a pipe dream, but it’s becoming more and more a real prospect. While the American electric vehicle maker is improving the home power storage profile, other less noticeable players are running their operations in the industry as well as currently equipping British houses with batteries.

Nevertheless, in the recent times how seriously the idea is being considered was demonstrated with a range of huge moves in the industry. First France came, with its petroleum company Total on 16th May 2016 announcing a scheme worth $1.077 billion to purchase battery company Saft as it looked to move away from fossil fuels and beyond the low priced oil.

24 hours later, Engie, earlier called GDF Suez disclosed it had purchased an 80% share in the California based organization Green Charge Networks, a dominating player in the battery industry.