There's been a flurry of news from Tesla this week, from Musk becoming a Dad to going crazy on Twitter to reporting profits during earnings calls. The latest is that Tesla has applied to the UK’s gas and Electricity Markets Authority for a license to generate electricity. The license will help the electric car maker's storage business, allowing users of batteries (and, possibly, its electric cars) sell excess electricity back to the grid. News of the application is being reported concurrently with the introduction of its Autobidder software platform, which allows trading of energy between assets.
Of course, Tesla's application is not exactly novel strategy. Several solar and wind farms within the United Kingdom have already been granted licenses to generate electricity. Considering current price points for Tesla products, it is also unlikely that the average consumer will be able to compete on energy prices with existing utilities at scale. But there is a strong chance that Tesla might see business boom with utility-scale installations of its products after it is granted a license.