South Australia’s Giant Lithium-ion Battery Earned $1M This Month

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South Australia’s Giant Lithium-ion Battery Earned $1M This Month

Tesla’s South Australian Powerpack Project is proving to be an exceptionally wise investment for Tesla CEO Elon Musk as reported by IFL Science.

The battery can earn money by holding excess electricity. In collaboration with the South Australian government and energy firm Neoen, Tesla can profit by soaking up excess energy and storing it for emergency use. Earlier this month, Electrek also estimated that Tesla managed to earn $790/MWh to absorb excess power from the national grid.

Click here to read the full story on IFL Science

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