Tesla and other Big comapanies entering solar: The Impact

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There are many reasons why homeowners go solar, but improving the environment and cutting energy costs are the most common. Many people are aware that solar is a great home efficiency upgrade and are eager to reduce their carbon footprint while also improving property value.

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Whether the motivations for going solar are economic, environmental, or personal, the sizable list of solar power benefits will have something for everyone.

Solar has now caught a world wide attention, and many huge companies are moving forward with the plan to invest in solar power.

Let us take an example of the most revolutionary company in the field of science and the one that has made a breakthrough in solar- Tesla.

When Tesla announced their intention to acquire SolarCity in June of 2016, the electric vehicle (EV) manufacturer’s stock plummeted. Shares dropped as much as 10 percent, and the company’s value took a $3 billion hit.

But merely eight months after Tesla’s SolarCity acquisition was approved, the company emerged as a world leader in solar technology. Of the many advancements, a massive Tesla solar farm is bringing power to an entire Hawaiian island, and government leaders are asking Musk to help solve their nation’s’ energy crises.

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The company’s impact on the solar industry extends to the individual level as well. Weeks after the company’s solar roof tiles went on sale in May; news broke that they would be out of stock well into 2018 due to demand exceeding supply. It is with good reason — Tesla’s solar roofs are cheaper than traditional solar panels, more aesthetically pleasing, and come with an “infinity warranty.”

More than simply building a better solar panel, however, Tesla is changing what it means to have a solar-powered home thanks to their revolutionary battery technology.

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Tesla is determined to bring this cost down and make their battery technology more widely available. They recently teamed up with Panasonic to begin mass-producing battery cells at their Nevada Gigafactory, which should help to lower costs. Additionally, the research team developing Tesla’s next-generation of battery cells found a way to double their lifetime four years ahead of schedule. This means that a one-time Powerwall 2 purchase could lead to decades of energy storage.

So much was Elon Musk’s dedication in solar that he even wrote back in 2006,”the overarching purpose of Tesla Motors is to help expedite the move from a mine-and-burn hydrocarbon economy towards a solar electric economy, which I believe to be the primary, but not exclusive, sustainable solution.”

Elon Musk has argued that only way to move forward and create a healthy and safe environment for all is by “co-marketing sustainable energy products from other companies along with the car” to “provide zero emission electric power generation options.”

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As a part of the home installation, Tesla believes that batteries are indispensable. Musk’s argument that at-home batteries are a necessary component of solar installation is a solid one.

At-home batteries allow users to store solar energy and use it at night. They also draw electricity from the utility grid when rates are low. The fact that the two processes don’t already go hand-in-hand seems outdated.”Solar and storage are at their best when they’re combined,” Tesla wrote.

The SolarCity launched is a combo of innovativeness of Tesla and the cutting edge technology by the company. It has driven all major companies to go eco-friendly and has helped in bringing out the advantages of solar power.

Focusing more on India, India is betting big on renewable energy, and solar companies are taking notice.

SunPower CEO Tom Werner said India is about to become the biggest market for solar energy, primarily because of Prime Minister Narendra Modi’s interest in growing the sector.

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“The market that’s going to boom in India,” Werner told Business Insider. SunPower, the second biggest solar installer in the US, is owned by European oil giant Total.

SunPower has already partnered with Mahindra EPC, a solar subsidiary owned by Indian conglomerate Mahindra Group, to build a 5-megawatt solar plant in Rajasthan, India. The plant generates enough electricity to power 60,000 rural homes.

Modi wants to spend 210 billion rupees ($3.1 billion) on state aid for India’s solar panel manufacturing industry to increase India’s photovoltaic capacity and create an export industry, according to Bloomberg. Called the Prayas initiative, short for Pradhan Mantri Yojana for Augmenting Solar Manufacturing, the plan has not yet been made public.

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As evident, all the big players are making way into the solar field and now especially in India owing to its placement near the equator and thus receiving abundant sunlight.

In India, Trina, a giant in solar power, has already sold 1.5 GW of solar PVs and will have done a business of 2 GW by the end of the year. Total solar panels capacity installed in India is around 8 GW.

Trina’s clients in India include energy majors like Welspun, Hero Future Energies, ACME and Renew Power. It has, in 2014, supplied 600,000 solar panels for India’s largest solar project of 151 megawatts at Neemuch in Madhya Pradesh.

With the Narendra Modi government’s major thrust on renewables – that resulted in the formation of the International Solar Alliance this year with its secretariat in Gurgaon – private players are entering the solar space in a big way.

There are tremendous benefits to solar power for large corporations, individual homeowners and everyone who calls this planet home.  These include cost savings, tax benefits, a more efficient heating and cooling system, positive environmental change, and a direct impact on our planet.

Many different types of companies (both large and small) are reaping the benefits of solar power, along with schools, universities, hospitals, and the government. Just last week, Disney announced that it had commissioned a 20-acre solar farm (in the shape of Mickey Mouse’s head!) consisting of 48,000 solar panels to be built in Orlando, Florida that will be used to help power Walt Disney World Resort.And this past February, Apple committed $848 million to build a 2,900-acre solar farm that will power its new corporate headquarters and data center in Cupertino, California.

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To conclude, we would like to say that, the impacts of affordable, long-lasting, high-capacity battery technology is dramatically influencing the future of solar power.All of the projections that are being made [about solar adoption]are based on status quo, which is solar pumping electricity into the grid. The moment people can go off grid anywhere in the country, that massively changes the equation.

The impact of widespread solar energy adoption will extend far beyond saving people money on their energy bill. Jobs will be created; we could reduce water scarcity, prevent hundreds of billions of dollars of carbon-related damage to the environment, and dramatically lower health care costs.

Sollink is entirely dedicated to realizing the Indian prime minister’s vision and is helping the community rise and support their needs via solar.

 

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