Tesla Announces the Megapack Energy Storage System
While the focus on Tesla (NASDAQ: TSLA) is primarily with the company's electric-car sales (and rightly so, since they account for the bulk of the business), investors shouldn't overlook its fast-growing energy storage segment.
The nascent energy storage business had a rare chance to grab some headlines on Monday when Tesla announced a new battery system called Megapack, designed to address the needs of utility grids. The Megapack system will help Tesla build on its early momentum in the important energy storage space.
A rendering of a large-scale deployment of Megapacks. Image source: Tesla.
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