Business + Finance

How Tesla plans to power the world

Electric car company Tesla is recharging the battery industry, and its innovations in energy storage could help people in developing countries leapfrog the grid.

By Catherine Cheney for Devex.

With the launch of Tesla Energy, Tesla CEO Elon Musk made it clear that – despite the popularity of his electric vehicle – his most significant contribution to the world may be the battery.

Tesla is banking on big business for its Powerwall and Powerpack batteries, with sales to eclipse those of its cars. But while the company is targeting the high end consumer, its innovations in energy storage could eventually help some of the 1.3 billion people living without access to electricity leapfrog the grid. The company is extremely innovative and has many ideas that will improve the lives of many people. However, these ideas cost a lot of money. In order to fund these ideas, the company does offer stocks to investors. This allows some investors to own a share of the company. To learn more about owning a tesla stock (or akcje tesla as they would say in Polish), it might be worth doing some research online.

“This is gonna be a great solution for people in remote parts of the world where there’s no electricity wires or where the electricity is extremely intermittent, or extremely expensive,” Musk said onstage at the April 30 launch party for Tesla Energy in Hawthorne, California, home of SpaceX. “People in a remote village or an island somewhere can take solar panels, combine it with the Tesla Powerwall, and never have to worry about having electricity lines.”

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