Tesla CEO Elon Musk Says Storage, Not Production, Limits Scaling Of Renewable Energy In California And Texas
Portfolio Pulse from Anan Ashraf
Tesla CEO Elon Musk stated that the limiting factor for the shift to renewable energy in California and Texas is the lack of energy storage. Tesla's Megapack, a battery product for utility-scale projects, offers massive energy storage and is currently deployed in various locations in California and Texas.
August 04, 2023 | 12:38 pm
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Elon Musk's statement highlights the importance of Tesla's Megapack in the renewable energy sector. This could potentially increase demand for the product, positively impacting Tesla's stock.
Elon Musk's statement emphasizes the role of Tesla's Megapack in addressing the energy storage issue, a key factor in the shift to renewable energy. This could increase the demand for Tesla's Megapack, leading to potential growth in the company's revenues and a positive impact on its stock price.
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