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GM to sell solar power & storage systems to compete with Tesla

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According to a Bloomberg report, General Motors (GM) plans to compete with Tesla's solar Powerwall company after declaring its own solar power and storage system will be available starting in the latter half of next year. A new business unit called GM Energy is working with SunPower to provide solar panels and in-home energy storage for residential and commercial users, the company stated in a statement. Reportedly,, this endeavor is analogous to Tesla's energy business, in which automaker-built panels charge a battery that powers homes with electricity at night or during blackouts. The electric Chevrolet Silverado from GM, which is expected to go into production the following year, will come with a home energy system. With this new business partnership, GM is able to enter the energy storage market and provide owners of electric vehicles with a more affordable option to charge their vehicles. GM to sell solar power & storage systems to compete with Tesla Also, GM is also negotiating contracts with utilities that will permit owners of its electric vehicles (EVs) to use the batteries in their vehicles to power their homes in the case of a blackout. As part of a pilot initiative between GM and PG&E, the service will launch the following year. According to Bloomberg, the F-150 Lightning truck from Ford Motors has a comparable capability. There has never been a more critical period for the stability of the American electrical power grid, according to Travis Hester, vice president of GM EV growth operations. Hester said in a statement that clients might benefit from resilient and affordable energy management as well as sustainable energy solutions and services that could help lessen the effects of power outages. In order to build comparable pilot efforts, the business claims that GM is working with Consolidated Edison and New Hampshire Electric Cooperative. The company stated that solar deployments increased by 25% in the second quarter. Analyst Wood MacKenzie claims that SunPower, a partner of GM, is the fourth-largest solar energy company in the US, trailing only Tesla. According to Bloomberg, Sam Abuelsamid, principal research analyst at Guidehouse Insights, more companies will compete to offer power solutions, notably solar, for use in households and commercial fleets as some US regions face more blackouts.

By Fakun Gram

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