Money Musk's Battery Boast Will Be Short-Lived as Rivals Go Bigger

09:36  02 december  2017
09:36  02 december  2017 Source:   Bloomberg

Musk beats deadline for building world's biggest battery

  Musk beats deadline for building world's biggest battery Entrepreneur Elon Musk has won a US$50 million bet by beating a 100-day deadline for building a giant battery to help South Australia avoid energy blackouts, officials said. State Premier Jay Weatherill said testing of the massive lithium ion battery would begin within days, ahead of the December 1 deadline Musk set for himself when he signed off on the project earlier this year.Musk had pledged to build the battery in the South Australian outback for free if it was not completed within the 100 days. He estimated that would cost at least US$50 million -- local authorities will now pick up the tab.

Bloomberg Big Law. Bloomberg New Energy Finance. Media Services. Advertising. Bloomberg Content Service. Bloomberg Live Conferences. While Tesla’ s head start on the competition is a coup for Musk , rivals will be able to deploy batteries in similarly rapid time-frames, especially as the market

But who really cares? The Tesla boss beat his own ambitious 100-day goal to deliver the world’ s biggest battery in the Australian outback, winning fans among local politicians and giving himself a head start over competitors.

 © TheStreet Billionaire Elon Musk defied his doubters to beat Friday’s 100-day deadline and install the world’s biggest battery in the Australian outback. He’ll probably relinquish that crown by February.

South Korea’s Hyundai Electric & Energy Systems Co. is building a 150-megawatt lithium-ion unit, 50 percent larger than Musk’s, that the company says will go live in about three months in Ulsan near the southeast coast.

With battery prices tumbling by almost half since 2014, large-scale projects are popping up around the world. Developers have announced lithium-ion battery projects with total capacity of 1,650 megawatts per hour in 2017, four times the amount for all of 2016, according to Bloomberg New Energy Finance.

Google Pixel 2 Update Improves Battery Life Estimates

  Google Pixel 2 Update Improves Battery Life Estimates Google has updated its Pixel software to improve battery life estimatesThe update, which should be quietly rolling out to your Pixel phone now, is intended to make battery life estimates on the handset more accurate, and as a result much more useful.

09 14 AM IST. Elon Musk ’ s battery boast will be short - lived as rivals go bigger . South Korea’s Hyundai Electric & Energy Systems is building a 150-megawatt lithium-ion unit, 50% larger than Elon Musk ’ s , and will go live in about 3 months in Ulsan near the southeast coast.

Billionaire Elon Musk defied his doubters to beat Friday’ s 100-day deadline and install the world’ s biggest battery in the Australian outback. While Tesla’ s head start on the competition is a coup for Musk , rivals will be able to deploy batteries in similarly rapid time-frames, especially as the market

Quotes in the article

The AES Corp

AES

Elon Musk to compete to fund high-speed Loop in Chicago

  Elon Musk to compete to fund high-speed Loop in Chicago Tech entrepreneur Elon Musk said on Tuesday The Boring Company will compete to fund, build and operate a high-speed Loop connecting O'Hare Airport to downtown Chicago. Musk, the chief executive of electric car maker Tesla Inc and rocket company SpaceX, recently started the Boring Company to build transport tunnels for the system, which he says would be far faster than current high-speed trains and use electromagnetic propulsion.

Billionaire Elon Musk defied his doubters to beat his self-imposed 100-day deadline on Friday and install the world' s biggest battery in the South Australia. While Tesla' s head start on the competition is a coup for Musk , rivals will be able to deploy batteries in similarly rapid time-frames, especially as

Billionaire Elon Musk defied his doubters to beat his self-imposed 100-day deadline on Friday and install the world' s biggest battery in the South Australia. While Tesla' s head start on the competition is a coup for Musk , rivals will be able to deploy batteries in similarly rapid time-frames, especially as

10.67
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AltaGas Ltd

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+1.89%
NextEra Energy Inc

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157.47
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-0.36%

“Musk has set a benchmark on how quickly you can install and commission a battery of this size,” Ali Asghar, a BNEF senior associate, said in an interview. Falling costs are “making them a compelling mainstream option for energy-storage applications in many areas around the world, and projects even bigger than Tesla’s are now under construction.”

Though Musk’s Palo Alto, California-based Tesla Inc. is best known for making electric cars, the company sells its lithium-ion batteries to utilities eager for cost-effective ways to integrate renewable sources of power like solar and wind into their electric grids.

Musk agreed to up the stakes for South Australia, the mainland state with the biggest exposure to clean energy, by providing 100 megawatts of power, roughly the size of an electricity shortfall the region suffered in a February blackout.

SpaceX’s Falcon Heavy launch has been pushed to next year

  SpaceX’s Falcon Heavy launch has been pushed to next year SpaceX's Falcon Heavy rocket has been gearing up for its inaugural launch for quite some time, but multiple delays keep pushing that event later and later. In an email to Aviation Week, SpaceX President Gwynne Shotwell said, "We wanted to fly Heavy this year. We should be able to static fire this year and fly a couple of weeks right after that." The static fire test will be the first time that all of Heavy's 27 Merlin engines will be fired at once. And if all goes well there, Falcon Heavy should be ready for launch within the first few weeks of 2018.

Billionaire Elon Musk defied his doubters to beat his self-imposed 100-day deadline on Friday and install the world' s biggest battery in South Australia. While Tesla' s head start on the competition is a coup for Musk , rivals will be able to deploy batteries in similarly rapid time-frames, especially as the

Billionaire Elon Musk defied his doubters to beat his self-imposed 100-day deadline on Friday and install the world' s biggest battery in South Australia. While Tesla' s head start on the competition is a coup for Musk , rivals will be able to deploy batteries in similarly rapid time-frames, especially as the

Winning Admirers

His nimbleness in delivering the entire project before the summer deadline has won him fans among local politicians. South Australian Premier Jay Weatherill, who features a photo of Tesla’s giant battery on his Twitter profile, used Musk’s star power to help sell his pitch for the state to be a world leader in renewable energy.

With the battery sending power to the national energy market on Friday, Musk beat a Twitter bet that he could deliver the storage system within 100 days -- or he would foot the bill. The entrepreneur also met a target set by the state government of installing the battery by the start of summer, Dec. 1, South Australian Premier Jay Weatherill said in a statement.

The battery-storage industry is becoming increasingly important in places like South Australia, which has less access to traditional fossil-fuel sources like coal and gas than the rest of the nation. Instead, the region gets 41 percent of its electricity from renewable energy, one of the highest penetrations of wind and solar in the world.

Smoothing out the intermittent nature of those sources when the wind dies down and the sun stops shining has traditionally rested with natural gas “peaker” plants that can fire up to meet demand at night and in the early morning. Now with the cost of batteries falling, large projects can be deployed within three months to meet that need.

Samsung Galaxy S9 could charge to full in just twelve minutes

  Samsung Galaxy S9 could charge to full in just twelve minutes Battery breakthroughs happen all the time, in labs, but rarely make it to devices - until now. The new battery will replace current lithium-ion batteries found in phones, wearables and cars. The next generation battery uses what are called graphene balls which are able to hold 45 percent the capacity of the lithium ones but charge super fast in 12 minutes. This makes them perfect not only for smartphones but also for cars.

Billionaire Elon Musk defied his doubters to beat his self-imposed 100-day deadline on Friday and install the world's biggest battery in South Australia. Originally published on smh.com.au as 'Elon Musk ' s SA battery record will be short - lived as rivals go even bigger '.

blog 'gregmohney.blogdetik.com' is not exists.

Big renewable-energy companies AES Corp. and AltaGas Ltd. have already dabbled in the large-scale energy-storage market. Others such as NextEra Energy Inc. and E.ON will soon produce battery packs that are cost-competitive, said Sam Jaffe, a battery analyst at Cairn Energy Research Advisors in Boulder, Colorado.

a screenshot of a cell phone: Battery Project Boom© Bloomberg Battery Project Boom

While Tesla’s head start on the competition is a coup for Musk, rivals will be able to deploy batteries in similarly rapid time-frames, especially as the market becomes increasingly competitive, according to consultancy Wood Mackenzie Ltd. Over time, the rapid deployment of battery projects will give way to greater competition over costs, according to Saul Kavonic, a Wood Mackenzie analyst based in Perth.

“Such rapid installation times should not become a defining feature of batteries’ competitive technology advantage in a well-structured market, but rather battery costs and flexibility that will improve with time,” Kavonic said.

(Updates with battery delivering power to national grid in eighth paragraph.)

--With assistance from Matthew Burgess

To contact the reporters on this story: Perry Williams in Sydney at pwilliams113@bloomberg.net, Kanika Sood in Sydney at ksood9@bloomberg.net.

To contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Steve Dickson, Abhay Singh

©2017 Bloomberg L.P.

SpaceX's Elon Musk to launch his own car into deep space .
SpaceX confirmed Wednesday its CEO will blast his cherry red electric car off toward the Red Planet.Many wondered if Musk was joking last week when he tweeted his plans for the Falcon Heavy's inaugural payload to be his "midnight cherry Tesla Roadster playing Space Oddity," the classic song by the late David Bowie.

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