Elon Musk just hooked up 200,000 people in Australia.
Not with electric cars, though. Instead, with steady supplies of electricity that will be stored in Tesla’s Megapack energy storage systems.
Last week, we got word that Tesla landed an order for its Megapack for a new energy storage project in Melbourne. While the terms of the deal were not released, based on our calculations, the deal is likely worth more than $530 million.
The project will store solar and wind energy in three battery systems boasting 600 megawatts of capacity, thereby making it one of the largest battery systems in the world.
As the renewable energy sector continues to grow rapidly, particularly solar, more and more storage will be required to balance out the intermittency of solar and wind. And of course, this creates an opportunity for us to make a few bucks. Our analysts have traveled the world over, dedicated to finding the best and most profitable investments in the global energy markets. All you have to do to join our Energy and Capital investment community is sign up for the daily newsletter below.
Our analysts have traveled the world over, dedicated to finding the best and most profitable investments in the global energy markets. All you have to do to join our Energy and Capital investment community is sign up for the daily newsletter below.
In 2022, more than $5 billion was invested in battery energy storage systems, which is nearly a threefold increase from 2021. And by 2030, that number is expected to reach $150 billion, representing a CAGR of 52.9%. This should not be ignored.
There are currently dozens of companies capitalizing on the boom in battery energy storage, including, but not limited to: Tesla (NASDAQ: TSLA), BYD (OTCBB: BYDDF), and NextEra Energy (NYSE: NEE). But it should be understood that it’s still very early in the energy storage game. And while battery storage is getting a lot of attention, it may not be the most efficient option for utility scale energy storage. It certainly isn’t the cheapest.
That designation goes to the Newton Battery, which isn’t really a battery at all.
Instead, it’s an energy storage device that uses a little more than concrete and steel to store far more energy than any battery storage system operating today. Most of these, by the way, require massive amounts of lithium, which cost five times more than concrete and 13 times more than steel.
Now there’s actually one Newton Battery currently operating in Switzerland, and another under construction in Saudi Arabia which is sited next to a solar farm. This entire system will eventually power 4.5 million homes.
Not to take away from the significance of Tesla’s new battery storage project in Australia, but 4.5 million is a lot more than 200,000.
It’s also worth noting that with the Newton Battery, there’s no degradation like lithium-ion batteries. The Newton Battery does not lose power over time. In the world of energy storage, this is unheard of and, quite frankly, a massive game-changer for the global energy economy.
So as you can imagine, the company behind the Newton Battery is crushing it.
Not only is it in prime position to score billions of dollars in new government contracts, but it’s also in bed with the world’s biggest players in the energy game, including General Electric (NYSE: GE), Dominion Energy (NYSE: D), and Canadian Solar (NASDAQ: CSIQ).
It’s also already inked more than $32 billion worth of contracts over the next five years.
Make no mistake: the folks behind the Newton Battery are about to get stinking rich as the world transitions away from fossil fuels to renewable energy — and you can get some of this action for yourself too.
Not only is this company public, but it’s also trading at a huge discount thanks to recent market fluctuations. This gives you an opportunity to buy a few shares of this thing on the cheap.
Of course, before you do anything, you should always do your due diligence. That’s why I’m sharing this short presentation that will show you how the technology works, the contracts the company already has in place, and instructions on how you can grab some shares for yourself today before the stock shoots up in the coming weeks. To a new way of life and a new generation of wealth… Jeff Siegel
To a new way of life and a new generation of wealth…
Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.