What you need to know about a solar battery’s biggest problems
Posted On July 24, 2021
In 2016, Tesla sold its solar business to SolarCity for $2.6 billion.
Now the solar company is looking to make solar a more profitable business.
Tesla says it’s planning to add $1 billion in solar investments to its already-thriving business, which includes the battery division.
Tesla also said it plans to build a massive solar array in San Jose, California, which it says will eventually be the world’s largest solar farm.
In April, SolarCity CEO Lyndon Rive said Tesla will soon be shipping solar panels to California, where it’s already building a massive battery park.
The project, called the Gigafactory, will have more than 20 gigawatts of capacity and generate 100 gigawatts, according to the company.
Tesla’s SolarCity battery company has been investing heavily in its solar operations.
The company said in December that it has invested $7 billion in battery plants in California and plans to add another $7.5 billion to the market over the next two years.
SolarCity also recently announced plans to acquire SolarCity’s battery business, SolarWorld, for $766 million.