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2020 | OriginalPaper | Chapter

15. Tesla Energy

Authors : Tina Matthews, Mrunal Hirve, Yuqian Pan, Dao Dang, Elia Rawar, Tugrul U. Daim

Published in: Innovation Management in the Intelligent World

Publisher: Springer International Publishing

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Abstract

Tesla has transitioned from an electric vehicle company to an energy company that not only supports sustainable energy but also develops innovative technologies to store that energy. For Tesla Energy, the greatest challenge with solar power is to develop products that can store solar power for use when the sun is not shining. Storage of solar power is what Tesla has today mastered, with a storage device that is simple to use, easy to install, relatively inexpensive to maintain, and can store surplus solar energy which is not used at the time when it is generated but is used later when the sun is not shining. It is also optimized to be used as a backup power supply in the event of a power outage. What is most incredible is that it can be completely integrated with the grid in a smart way such that it can buy energy from the grid when it is the cheapest, i.e., during the daytime, store it, and then make use of it in the evening during peak hours when prices rise. With Tesla batteries, Tesla wants to enable the world to accelerate the move away from fossil fuels to a sustainable energy future. However, with natural gas coming up in recent times as a more affordable alternative, reducing the dependence on crude oil, it remains to be seen if Tesla can sustain its market growth and continue to lead as an innovative and sustainable energy company.

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Literature
Metadata
Title
Tesla Energy
Authors
Tina Matthews
Mrunal Hirve
Yuqian Pan
Dao Dang
Elia Rawar
Tugrul U. Daim
Copyright Year
2020
Publisher
Springer International Publishing
DOI
https://doi.org/10.1007/978-3-030-58301-9_15

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