New mega-batteries open opportunities for CRE development in remote places
Earlier this month, Tesla’s 100-megawatt lithium-ion battery was activated in South Australia, fulfilling a promise from Elon Musk to build the battery in just 100 days. This new battery is the biggest in the world, and according to Musk, is three times more powerful than the world’s next biggest.
The battery is connected to a wind farm and a larger grid and is intended to prevent repeated catastrophes like the loss of power across the entire state of South Australia. It also opens up possibilities for more sustainable, reliable power in remote places all over the world.
What does a future with mega-batteries look like?
Musk sees his mega-battery as a tourist destination in and of itself, but the potential of this power supply is much greater than that. Originally developed as a solution for a region with rampant electricity problems, Tesla’s mega-battery holds great promise for the future of currently under-developed areas.
Mega-batteries could be beneficial to people in areas that are currently underserved by technology and allow for the implementation of better amenities that we take for granted every day like internet access. In turn, more people all over the world could have more opportunities for education, work and a stronger economy.
What do mega-batteries mean for CRE?
The first logical commercial use for these batteries will be vacation destinations. Imagine a new luxury resort on a desert island powered by a mega-battery, allowing guests to both escape their everyday lives and maintain access to modern conveniences.
Additionally, people will soon be able to live and work in more places all over the world that suit any of their own unique preferences, whether that’s in a previously uninhabited desert, high up in the mountains or anything in between. Office, retail and multifamily development will be possible absolutely anywhere, creating new or updated communities in beautiful, remote locations.
Beyond just new opportunities for commercial development, what else will happen when previously remote places join the grid? Access our resource on the Internet of Things to learn more about the IoT, including how it connects the world and affects the CRE industry.