Tesla, embattled California utility PG&E team up for high-tech energy storage system

Embattled California utility PG&E and Tesla broke ground in Monterey County, California, last week to begin constructing one of the biggest utility-owned, lithium-ion battery energy storage systems on the planet.

Ticker	Security	Last	Change	Change %
TSLA	TESLA INC.	342.03	-3.97	-1.15%
PCG	PG&E CORP.	21.09	+0.10	+0.48%

"Battery energy storage plays an integral role in enhancing overall electric grid efficiency and reliability, integrating renewable resources while reducing reliance on fossil fuel generation," Fong Wan, PG&E's senior vice president of Energy Policy and Procurement, said in a statement. "It can serve as an alternative to more expensive, traditional wires solutions, resulting in lower overall costs for our customers."

ELON MUSK TWEET ABOUT BILL GATES GOES VIRAL PG&E is aiming for the Moss Landing battery energy storage system to be fully operational by the second quarter of 2021. The two companies are collaborating on design, construction and maintenance, but it will be owned and operated by PG&E.

The energy storage system will be able to store and dispatch up to 730 megawatt-hours of energy to the electrical grid for up to four hours during peak demand, PG&E said. One megawatt is enough electricity to power 750 homes at once, according to the California Independent System Operator.

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This isn't PG&E and Tesla's first time working together. PG&E's first lithium-ion battery energy storage system, which uses Tesla Powerpacks, was installed in the Sacramento area in 2017.

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The green energy industry has had difficulty finding solutions for energy storage for years.

FOX Business' inquiry to Tesla was not immediately returned.

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