Is This Big for SCTY Stock?
A few weeks ago, I wrote that SolarCity Corp (NASDAQ:SCTY) is at a crossroads. We have yet to see where SCTY stock goes, but this new device could put the company over the edge.
For all the effort put into solar panel technology, you’d think there would be an equal amount of attention paid to energy storage. Unfortunately, that hasn’t been the case.
Large, household batteries haven’t developed at the same pace as solar panels. This means that even though you could be collecting more energy, you don’t necessarily have a way of storing that power.
And when you think of it, that’s really bizarre. Rooftop solar panels have been growing in popularity, but customers are always worried about efficiency. “What happens if the sky is overcast for a few days?,” they ask. “I don’t have anywhere to save up power.”
That’s a reasonable fear. It is perfectly understandable to worry about a technology you’re not familiar with. In fact, I’m amazed solar power has come this far without addressing this main issue.
Sure, there are some cool options for what you can do with solar energy. You can make a quick buck by feeding your extra power onto the electric grid. But if you want to store solar energy, you would still need a battery of some kind.
And battery options were thin on the ground…until now. SolarCity has, in partnership with Tesla Motors Inc, developed a device for efficiently storing solar energy.
It is called the “Powerwall.”
The Powerwall is a slim battery with a beautiful casing. You can mount it in a garage or shed, but better still, you can stack Powerwalls to infinity. (Source: “Energy Storage for a Sustainable Home,” Tesla Motors Inc, last accessed May 2, 2016.)
If you own a business and need 20 Powerwalls to suit your energy needs, then buy 20 and install them as a “Powerpack.” Flexibility is precisely the point.
If you need a hundred, hey, go nuts. There are no onerous regulations in this field. You don’t even need to be a tree-hugger or solar enthusiast to love this idea.
Here’s why: solar energy is free. You may be paying for the panels, but the month-to-month energy creation is happening right on your property. You’re in control, not some bean counters at the utility company. So in a sense, it’s about freedom.
That appeal could help bring rooftop solar to the masses. I imagine a lot of the initial orders will come from businesses, but don’t count out individuals.
There are plenty of hard-working Americans who would like to take back control of their energy consumption, restoring their self-sufficiency and independence.
Energy storage devices are a big part of our future, but the industry is barely formed. SolarCity and Tesla are early to the party. They could establish an early lead in the market, given how few competitors there are.
Not enough manufacturers had taken solar seriously enough and now they’re paying the price. It is possible that energy storage could become a deciding factor in the market, elevating SCTY stock far above its competitors.