The report shows that Tesla Powerpack is profitable and reducing grid costs. Image credit: Tesla
South Australia’s massive Tesla Powerpack battery array has recouped nearly 25 per cent of its initial investment.
According to a report from Electrek, the battery array cost about $91 million to manufacture and made about $13 million to $23 million in the six months after it was put into use. This is expected to increase to $27 million by the end of the first year.
After the battery is charged, it releases power to the grid during peak demand periods. This allows it to earn money on the wholesale market, making it profitable.
The massive Tesla Powerpack battery array improves grid stability at a lower cost by storing energy from the nearby Hornsdale Wind Farm and sending it to the grid when needed.
(Original text from: Renewable Energy News New Energy Network Comprehensive)
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