Tesla partner launching groundbreaking new battery energy storage

Tesla Inc. (Nasdaq: TSLA) and Pacific Gas & Electric Company (NYSE: PCG) have begun building one of the largest lithium-ion battery storage systems in the Monterey district. Tesla and PG&E begin building a 182.5 MW energy project The Moss Landing, Monterey project will store up to 182.5 MW and includes 256 Tesla Megapack battery units in the PG&E substation, which will be installed in 33 concrete slabs. Each unit will contain both batteries and devices for energy conversion in a single cabinet. This project is expected to be completed with the start of energy supply in early 2021 and full commercial operation of the project is expected in the second quarter of 2021. PG&E and Tesla will design, build, and maintain the project with the utility that runs the project. This will mark the first step in the pipeline of PG&E's massive battery storage system. The competitive utility has also signed another contract for a 300 MW storage system at the site and is expected to reach a capacity of 1.2 GWh. The second system will be larger than the Tesla project, but there is an upgrade option that will effectively increase the project under construction to 1.1 GWh. Energy storage project to save costs PG&E SVP for Energy Policy and Procurement, Fong Wan, said that storing energy in batteries is very important for improving the overall efficiency of the power grid. It is also important to improve the reliability and integration of renewable resources while minimizing the excessive reliance on fossil fuel production. Wan added that the project will serve as an option to expensive, conventional wire solutions, resulting in lower costs for customers. Interestingly, the Moss Landing project will store around 730 MWh of energy and feed it into the grid for up to 4 hours of peak demand. According to the independent Californian network operator, 1 MW is sufficient to supply around 750 households so far. The company says the project will save over $ 100 million over its 20-year lifespan if the battery power system weren't in place, compared to other power projections..