SpaceX and Tesla founder Elon Musk won a $50 million bet by building the world’s largest ever lithium-ion battery within 100 days. This huge battery could help solve the energy blackouts in South Australia.
The billionaire entrepreneur made a bet in March 2017 after South Australia suffered severe blackouts following a storm. He and Lyndon Rive, the head of Tesla’s battery division, proposed building an energy storage facility.
Mr. Musk tweeted that he would get the battery installed and working within 100 days of the contract being signed or the $50 million system would be free. The deadline is actually on Dec. 1, which means that Musk has completed the project before the deadline.
Australian Premier Jay Weatherill stated that the world’s biggest lithium-ion battery will be a significant part of their energy mix. This could send a message that South Australia will be a leader in renewable energy with battery storage. He further stated that a huge amount of work has gone into delivering this project in such a short time.
He continued that South Australia is set to have backup power in place this summer through Musk’s development of the battery. This will be energized in the coming days as it enters a phase of regulatory testing, as noted by Sky News.
The world's largest lithium-ion battery, which is being built in South Australia by Tesla, is about to enter final testing. Elon Musk previously said that if he didn't get the project done in 100 days, he'd foot the bill, which could have been up to $50M pic.twitter.com/aZg61Kfo74— DIY.FUND (@Diyfund) November 24, 2017
The Tesla Powerpack is connected to a wind farm that is managed by French energy firm Neoen. The battery tests will be conducted to guarantee the local regulatory requirements before it will operate on Dec. 1. It is expected to power thousands of homes during periods of blackouts, according to Phys.org.
The intense blackout in South Australia has become an issue and a national debate in Australia. And the government of Australia has blasted the breakdown of renewable energy to cover usage. Thanks to Elon Musk’s battery farm that could store sufficient amount of energy, this could help resolve the severe power outage of South Australia.
Musk is pleased with the speedy development of the project. He congratulated those who were involved in developing the battery, particularly the Tesla crew and South Australian authorities who worked hard to manufacture and install it in time. Musk is also investing in solar panel technology and energy storage.
[Featured Image by Kevork Djansezian/Getty Images]