Elon Musk just unveiled details of Tesla's "Gigafactory" — a giant-scale battery manufacturing facility that will pump out huge quantities of lithium ion batteries, as used in Tesla's electric vehicles.
This should mean cheaper batteries in electric vehicles.
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[P]ower storage is the key to unlocking widespread renewable energy. For renewables to work on scale, they need to be able to provide a continuous current flow, something difficult to achieve when the wind isn't blowing or sun isn't shining. [Business Insider]
This could be explosive news for traditional power companies. With solar energy already falling rapidly in price — and set to match coal on price in the next decade — reliable, cheap battery storage is the final piece in the renewable energy jigsaw puzzle.
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