Hours after Tesla Energy released its home energy storage battery solution, Edison International (NYSE: EIX) announced it has secured agreements with Tesla, in which Southern California Edison (SCE) — the regulated utility subsidiary of Edison International and SoCore Energy — will implement energy storage projects that feature Tesla's Powerpacks. The companies will work on two demonstration projects aimed at reducing the cost of battery storage systems, while testing communication capabilities, and exploring potential rebates to customers.
The first demonstration project targets homeowners in SCE’s territory who have solar panels installed with battery storage capability. The second demonstration project focuses on commercial and industrial customers who require a larger energy storage capacity. The projects are expected to be operational in 2015.
“We are excited to work with a cutting-edge company like Tesla to help create a market for battery storage systems,” said Ron Litzinger, executive vice president of Edison International and president of Edison Energy. “The ability to store energy in batteries by both residential and commercial customers is key to expanding the nation’s use of clean renewable power.”
Additionally, SoCore Energy is working with Cinemark Holdings to design and install Tesla batteries at two theatre properties in Lancaster and Orange, California. The battery system at the Lancaster site will be able to store up to 800-kWh, while the Orange site will have a capacity of 1,200-Kwh for use during peak periods.
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