Latest news with #TeslaEnergy
Yahoo
7 days ago
- Automotive
- Yahoo
Tesla shakes automotive world with announcement regarding major US facility: 'Nearing completion'
Tesla is moving closer to opening its first lithium iron phosphate (LFP) battery factory in the United States. The company recently posted a video on X of the factory, located in Sparks, Nevada. In the caption, Tesla said it is "nearing completion" of the facility, which Not a Tesla App reported will manufacture battery cells for Tesla energy projects such as Megapack and Powerwall. LFP batteries are growing in popularity, with manufacturing plants starting to pop up across the globe. Unlike other common batteries, LFPs don't use nickel or cobalt, which makes them lighter, less expensive, and less likely to catch fire. And because those metals don't need to be mined, producing LFP batteries is also a more eco-friendly process. Previous incarnations of LFP batteries weren't powerful enough to replace other battery types, but recent improvements have made them viable alternatives. Until now, Tesla has used Chinese suppliers for LFP battery cells. Plans for the Nevada factory were originally leaked in early 2024, and the company confirmed them during its first-quarter earnings call this year while also discussing the importance of energy storage to the company's future. "The importance of this business … is pretty profound," Tesla CFO Vaibhav Taneja said during that call. "In order for grids to work properly with the demands from AI, you need some more stability." Domestic production of LFP batteries has the potential to be a game-changer, not just for projects like Megapack and Powerwall, but also for electric vehicles. If battery costs come down significantly, cars will also become more affordable, which could put more EVs on the road instead of polluting, gas-powered vehicles. That would be welcome news for Tesla, which has seen its sales numbers drop significantly this year. The type of energy used to charge batteries can also have a huge impact on EV ownership costs. Using home-based solar energy, for example, is considerably cheaper than paying for energy from the grid or using public charging stations. To amplify those savings, EnergySage offers a free tool that enables consumers to compare quotes from local, verified solar panel installers while saving up to $10,000 on installation costs. Would you buy an EV if it only took 5 minutes to charge? Sign me up No way Depends on the cost Depends how much range it has Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Forbes
06-06-2025
- Business
- Forbes
13 House Republicans—Who Voted For Trump's Mega-Bill—Now Want Changes After Musk Threat
A group of 13 House Republicans—12 of whom backed Trump's policy bill, and several whose campaigns were backed heavily by Elon Musk—urged the Senate to make changes to the clean energy tax credit provision that Tesla Energy has also advocated for in a letter Friday, days after Musk threatened the jobs of Congress members who continue to back Musk's bill. This combination of pictures created on June 5, 2025 shows US President Donald Trump in the Oval ... More Office of the White House, in Washington, DC, on May 5, 2025 and Elon Musk in the Oval Office of the White House in Washington, DC, on May 30, 2025. (Photo by ALEX WROBLEWSKI,ALLISON ROBBERT/AFP via Getty Images) This is a developing story and will be updated.
The Verge
03-06-2025
- Business
- The Verge
since Elon Musk extended his
1 million Powerwalls. While sales of Tesla cars have suffered greatly arm and wallet to politics globally, his Starlink and Tesla Energy products have continued to do well. There's lots of EV competition, but zero alternatives for cheap and fast consumer internet that can be quickly deployed in data dead zones, or whole home battery backup systems with a proven track record and terrific user experience. Although the competitors are quickly gearing up to address the latter.
Yahoo
30-05-2025
- Business
- Yahoo
Musk criticizes Trump bill over abrupt end to energy tax credits
Outgoing administration adviser Elon Musk is criticizing Republicans' signature policy bill to advance President Trump's agenda as the he walks out the door, saying it moves too quickly to phase out Biden-era low-carbon energy tax credits. Musk, in a post on the social platform X, reposted his company Tesla Energy's post that warns against 'abruptly ending the energy tax credits.' The post states: 'We urge the senate to enact legislation with a sensible wind down' of credits for low-carbon electricity companies and homeowners who want to install residential green energy such as rooftop solar. In a separate post, Musk wrote 'there is no change to tax incentives for oil & gas, just EV/solar' in the House-passed GOP bill, which faces calls from changes from multiple Republicans in the Senate. In response, a senior White House official told The Hill that Musk and Trump may not always agree, but that the two share a mutual respect. The official said that Trump supports the bill in its current form and will always prioritize oil and gas. The posts highlight fissures within the Republican Party on how to deal with the energy tax credits passed by Democrats in 2022. A number of Republicans have called for a more deliberate phaseout that does not strand energy projects already in progress, but what ultimately passed the House was a significant chop to the credits that many in the industry describe as unworkable. In particular, the final version states that projects can only get the credit if they begin construction within 60 days of the bill's passage and begin producing electricity by 2028. Trump has called for Republicans to unite behind the bill, but Musk has also criticized it previously, in an interview with CBS News, for not codifying the broad government funding cuts enacted by his Department of Government Efficiency (DOGE). 'I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,' he said. Updated at 7:29 p.m. EDT. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Politico
29-05-2025
- Automotive
- Politico
Musk, Tesla blast GOP plans to end clean energy tax credits in megabill
Tesla late Wednesday criticized the Republican megabill for gutting clean energy tax credits, a message amplified by CEO Elon Musk hours after he announced he was leaving the Trump administration. 'Abruptly ending the energy tax credits would threaten America's energy independence and the reliability of our grid,' Tesla Energy, the company's solar and battery division, wrote on X. The House-passed reconciliation package would repeal the Inflation Reduction Act's residential solar credit at the end of the year and rapidly phase down the clean electricity investment credit for all forms of generation except nuclear, disqualifying all but a few shovel-ready projects. The bill would also terminate most credits for electric vehicles at the end of the year, disqualifying Teslas from a $7,500 incentive at a time when the company is experiencing declining sales and backlash linked to Musk's actions to gut the federal workforce. Tesla's energy division has seen faster growth and higher profits than its vehicle business in recent years. Launched by Musk in 2015, it sells a range of solar and battery energy storage products to homeowners and utility companies. Tesla Energy urged the Senate to support a 'sensible wind down' of the residential solar and the clean electricity investment credits, which it said would allow 'continued speedy deployment of over 60 [gigawatts] capacity per year to support AI and domestic manufacturing growth.' Musk later amplified the message on his personal X account, along with a post from another user that said 'slashing solar energy credits is unjust.' 'There is no change to tax incentives for oil & gas, just EV/solar,' Musk wrote. Musk said last month that he would step back from his government role to devote more time to running Tesla, and he confirmed Wednesday that his tenure as a 'special government employee' was coming to an end. Backing the credits is a shift in position for Musk, who has previously supported ending all government subsidies, including those for EVs and the fossil fuel industry. He has contended that ending the EV credit would help Tesla because its competitors are more reliant on it. The oil lobby has long disputed referring to its tax breaks as 'subsidies,' arguing they are in line with deductions claimed by all corporate taxpayers. Musk also criticized the megabill's price tag earlier this week, saying he was 'disappointed' it increases the deficit and contradicts the cost-cutting efforts of his so-called Department of Government Efficiency.
