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News Link • Energy

Elon Musk Announced Another Huge Bet Today, And The Fate Of The Solar Industry Is Riding On It

• Business Insider

The rest of the world is not building enough lithium ion storage to meet what Tesla thinks will be surging demand, so it has decided it must do it itself by making a very costly factory.

Tuesday, SolarCity (Elon Musk's other company) announced it will have to do the same for solar panels. The firm unveiled plans to build one of the world's largest high-efficiency solar panel plants, using technology from Fremont-based Silevo, which they also said they'd acquired. 

"We expect to have to install 10 gigawatts [of high-efficiency panels] a year," Chairman Elon Musk said on a conference call announcing the move. "If you look at the current capacity in the world, we're not able to do that right now."

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