Elon Musk is following through on his promise to solve an energy crisis in Australia. His electric car company, Tesla (TSLA), has teamed up with a French renewable energy firm and an Australian state government to install the world's largest lithium ion battery. This will be the highest power battery system in the world by a factor of 3. Jay Weatherill, the premier of South Australia, said the large-scale battery system Musk is promising will "provide stabilization services to the grid." But if Musk and Tesla run into delays, it won't cost the state's taxpayers anything.

Source: CNN July 07, 2017 05:26 UTC