Can Tesla Help Fix Puerto Rico’s Power Grid?

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Tesla Inc (NASDAQ:TSLA) is seeking to help rebuild Puerto Rico’s power grid with solar panels and batteries.

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“The Tesla team has [built solar grids] for many smaller islands around the world, but there is no scalability limit, so it can be done for Puerto Rico too,” Musk tweeted on Thursday. “Such a decision would be in the hands of the PR govt, PUC, any commercial stakeholders and, most importantly, the people of PR.”

Such a project wouldn’t be a first for the electric car maker as Tesla has done similar battery and solar power projects in places such as the Kauaʻi Island Utility Cooperative in Hawaii and in American Samoa.

The need for power with both projects were considerably smaller, affecting less people than the island of Puerto Rico. Nevertheless, Musk believes that Tesla has the size and technology to tackle such an endeavor by scaling up existing operations to meet larger demand.

As things stand, less than 10% of Puerto Rico has power at the moment. The island’s Governor, Ricardo Rossello, said on Monday that it could take up to a month to restore the power for only a quarter of the households in the territory.

As things stand, some houses will be without power for four to six months unless someone like Tesla steps in to help out.

TSLA stock gained 0.4% Friday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/10/tesla-puerto-rico-elon-musk-tsla/.

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