Tesla files to become an electric utility in Texas
- Sep 1, 2021 12:30 am GMT
Tesla has been getting comfortable in Texas over the last two years, building a gigafactory for its cars, stationing its space base, building large energy storage projects and, now, applying to become an electric utility in the state.
According to Texas Monthly, Elon Musks company established a new branch of its business, called Tesla Energy Ventures. TEV filed paperwork in August with the Public Utility Commission of Texas to become a player in the state's retail energy market.
Texas is still reeling from its near grid collapse during a winter storm in February. If Tesla's paperwork is approved this fall, it would set up Tesla to potentially become a significant player in the open Texas energy market. The company has plans to build two utility-scale battery storage facilities in the Houston and Austin areas.
I'm curious to see how Tesla will leverage its prominence in the electric vehicle market to make it a successful player as a utility. We've heard nonstop about electric car companies making cars and chargers able to send electricity back to the grid. What happens when the same company owns the cars, chargers and is also the electricity buyer?
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