Photo: APSydney: Billionaire Elon Musk defied his doubters to beat Friday’s 100-day deadline and install the world’s biggest battery in the Australian outback. South Korea’s Hyundai Electric & Energy Systems Co. is building a 150-megawatt lithium-ion unit, 50% larger than Musk’s, that the company says will go live in about three months in Ulsan near the southeast coast. With battery prices tumbling by almost half since 2014, large-scale projects are popping up around the world. Developers have announced lithium-ion battery projects with total capacity of 1,650 megawatts per hour in 2017, four times the amount for all of 2016, according to Bloomberg New Energy Finance. Instead, the region gets 41% of its electricity from renewable energy, one of the highest penetrations of wind and solar in the world.

Source: Mint December 01, 2017 03:45 UTC