Tesla plans to begin selling electricity to homes in the UK.Tesla Electric will supply to households that own Tesla products including EVs and batteries.
The company already runs an energy supply business in the US, and are planning to run 'virtual power plants.'
Tesla Electric may help customers who own Tesla Powerwall batteries or EVs to store electricity when it is cheap and sell electricity back to the grid when market prices are higher. This can act as a form of storing variable renewable energy for more efficient renewable electricity use.
Tesla was granted a licence to become an electricity generator in June 2020 after applying to the UK's energy regulator, Ofgem, three years previously. Tesla have accumulated customers across the country and have been creating a virtual power plant.
Earlier this year, Tesla set out a master plan to eliminate fossil fuels from the world economy by relying on electrification and smart power storage technologies.
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