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Is Tesla Re-inventing the Future of Power in 2018?

Positive Future #68 (Feature photo – Solar Rooftop – photo CCA SA 2.0 Generic)

Over the past few months, the Tesla Company has been in talks with the government of South Australia. South Australia is a state of Australia along the Southern coast of the continent. With some 1.7 million people, South Australia has teamed up with Tesla to do what even a year ago would have been considered utterly outlandish.

The plan calls for the installation of solar panels and Tesla power walls to store that energy on 50,000 homes – at no cost to the homeowners. The solar rooftops and the Tesla power walls will be connected via an information network that coordinates production, storage and distribution of power back to all the 50,000 homes. The homeowners will have to sign a power purchase agreement, but estimates are that once up and running, they will save 30 percent on their power costs.

The projected is estimated to cost $800 million and will be financed by selling bonds, a government grant of $2 million and a $30 million government loan.

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