Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Tesla says Australian utility Origin to market solar battery

Published 10/12/2015, 08:00 am
© Reuters.  Tesla says Australian utility Origin to market solar battery
ORG
-
TSLA
-
SEDG
-

By Matt Siegel

SYDNEY, Dec 10 (Reuters) - Tesla Motors Inc TSLA.O on Thursday listed Australia's largest power and gas retailer Origin Energy ORG.AX as one of the distributors for its solar battery storage product which the company is launching globally in two other countries.

Australia has the world's highest per capita penetration of rooftop solar technology, and Tesla's Powerwall is part of a green power system the company launched in May that would allow consumers to use solar panels to power their homes and recharge electric car batteries. urn:newsml:reuters.com:*:nL8N13I2YN

Tesla said other companies would also become Powerwall distributors in Australia, where soaring electricity prices, high solar panel uptake and plenty of sunshine make it an ideal market for solar battery storage products. It did not name these other firms in its initial statement. urn:newsml:reuters.com:*:nL3N13B2MZ

Origin CEO Frank Calabria said the company would bundle the Powerwall with solar panels from Chinese firm Trina Solar Ltd TSL.N and inverters from Israeli-based SolarEdge Technologies SEDG.O to form a "turnkey home energy solution".

The product will be available for installation from February 2016, he said in a statement.

More than 15 percent of Australia's 8.4 million households have rooftop solar technology, the world's highest per capita penetration, figures from the Energy Supply Association of Australia show.

Tesla is also launching the Powerwall in Germany and the United States. (Editing by Miral Fahmy)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.