Tesla Inc (NASDAQ:TSLA) is hyped on Wall Street mainly for its electric vehicles — even though its EVs occupy a miniscule portion of the total car market.
But an often underappreciated potential growth catalyst is the company’s energy segment, specifically its batteries. As Electrek reports, a French solar installation company called Systemes Solaires has installed Powerpack at their headquarters, which is now powered almost totally off-grid due to its combination of solar panels and Tesla batteries:
CN Industrie CEO Clément Neyrial, a Tesla Model S and Model X owner, told Electrek that he reserved a Powerpack system as soon as possible to pair with a large 113 kW solar array on the rooftop of the facility.
Neyrial says that Tesla delivered a Powerpack v1.5 with a capacity of 100 kWh and a Tesla commercial inverter with a capacity of 50 kW. It’s a lower energy version of Tesla’s Powerpack 2.0, which can have a capacity up to 210 kWh in the same package.
The business owner notes that the combination of his rooftop solar panels and Tesla’s energy storage system allows the building to run 100% off the electric grid for 8 months out of the year. For the other 4 months, the system should cover around 80% of its energy needs.
That’s an impressive feat, and something we’ll likely see many commercial enterprises attempt to copy in coming years, due to the massive long-term energy costs savings Powerpack can help deliver.
Tesla Inc shares closed at $336.22 on Friday, down $1.73 (-0.51%). Year-to-date, TSLA has gained 7.99%, versus a 4.14% rise in the benchmark S&P 500 index during the same period.