#Tesla is known across the globe as being an innovative company – who hasn’t heard of it? The company, for starters, has an all-electric car catalog with absolutely amazing vehicles featured in it. But Tesla is more than just the creator of pioneering cars – their products and overall mission could speed up the shift toward renewable #energy, like #solar power.
While there might be naysayers along the way and obstacles to maneuver, the future continues to look bright. Recently, Tesla outlined the present status of Tesla energy products in a shareholder letter. Many are realizing the perks of battery storage, for example – commercial entities, homeowners and utilities and energy companies included.
Acquisitions & Solar Moves
Tesla recently acquired Gigafactory 2 and #SolarCity, which has allowed the company to offer energy products incorporating storage, grid and solar services. Businesses and individuals alike are now being encouraged to think about solar panels, battery storage and electric cars as an integrated whole. There is major demand, and the expectation is that cash flow from solar will remain stable for the rest of the year.
How has Tesla done in terms of solar and renewable energy goals? Earlier this summer, the company reached its goal of deploying 1GWh of energy storage across the globe in less than five years. The plan for now is to add another 1 GWh of energy storage within the next year.
Raising the Roof: Ramping Up Solar
According to CEO #Elon Musk, in response to Director of CleanTechnica Zachary Shahan, the company expects to ramp up Powerpack and #Powerwall production later in 2018 and in the beginning of 2019. In addition, the plan is to ramp up Solar Roof and retrofit solar.
Note: Powerwall and Powerpack are exceptional creations manufactured by Tesla. They are rechargeable lithium-ion battery energy storage products. Powerwall stores electricity for solar self-consumption.
Musk also told Shahan that Tesla has several hundred solar roofs. The company is going to ramp up solar roof production in Buffalo toward the end of this year, while working on the production process and product design.
If everything goes as planned, when it comes to solar and renewable energy, Tesla is going to be a major part of the shift our planet is seeing. Solar Energy Industries Association (or SEIA) released their Q1 2018 United States Solar Market Insight report which outlined solar capacity in Q1. Basically, the United States installed 2.5 GW of solar PV capacity, which means it reached just under 56 GW of total installed capacity. This is enough to power more than 10.5 million homes in the United States. The numbers represent a solid increase year over year – 13 percent, to be precise. And over the course of the next five years, total PV capacity in the U.S. is anticipated to more than double.
Making Strides to Keep Up With Demand
The numbers speak for themselves. Tesla is certainly ramping up its solar products and other products focused on renewable energy. As with any company, Tesla does have restructuring needs and must adapt when it comes to market changes. The demand for solar and other renewable energy products and services is certainly there – the company must increase production to keep up with demand. As production efforts are ramped up, wait times will lessen – Chief Technology Officer JB Straubel mentioned specifically that Powerwall wait times should be reduced by the end of the year. Demand for things such as battery packs and solar are increasing and will continue to increase – now, companies like Tesla just need to keep up with production, and it looks as though this is going to happen.
Tesla anticipates the production of more than 1 GW of solar products (a combination of traditional solar panels and roof tiles). Yes, we might hear about changes and obstacles occurring as it relates to solar and renewable energy, but this is to be expected with any corporation making major strides and working with a revolutionary concept.
Follow up with solar news to stay in the know. The world is seeing a huge shift in the direction of solar and renewable energy, and it is fascinating to watch it happen. With major corporations such as Tesla on board and working to speed up the shift toward solar, we are going to see great things accomplished over the next few years. Stay tuned and ask yourself what habits of yours you could change to help accelerate the solar and renewable energy shift.