Tesla has installed a truly huge amount of energy storage - 0 views
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Today, the company is announcing a new milestone: Since 2015, it has installed a worldwide total of a gigawatt-hour of energy storage–technology that is critical for using renewable energy at scale. For comparison, that’s nearly half of the entire amount of energy storage installed globally last year.
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The cost of battery storage keeps falling; between 2010 and 2016, the price across the industry fell 73%, from $1,000 a kilowatt-hour to $273 a kilowatt-hour. By 2020, it may drop to $145 a kilowatt-hour, and by 2025, to $69.5 a kilowatt-hour.
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The growth is only a fraction of what’s needed to transform energy. In 2015, when Elon Musk talked about the company’s new energy division, he estimated that it would take 2 billion Powerpacks to fulfill the world’s energy needs. “Even at 300%, we’ll need to grow it this way for decades, frankly, to really solve the problem,” says Straubel. “And not just us, but other companies need to get involved, too.”