Tesla’s new virtual power plant will help stabilize California’s electric grid and end blackouts.

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Tesla ($NASDAQ:TSLA) has launched a new virtual power plant in partnership with PG&E in California that will pay Powerwalls owners to help stabilize the electric grid and end blackouts in California. The new VPP will allow Powerwall owners to opt in to the program and sell their stored electricity back to the grid when demand is high. This will have a positive effect on Tesla’s market and earnings in the long term.

Market Reaction

Tesla’s stock price rose by 4.5% on Friday after news reports about the company’s new Cybertruck were mostly positive. Prior to this, Tesla’s stock had been volatile, with some reports being positive and others negative. This latest development seems to have given investors some confidence in the company’s future.

VI Analysis

Company’s fundamentals reflect its long term potential, below analysis on TESLA are made simple by VI app. TESLA is classified as ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. At the right price, it is suitable for those who wants to invest for high capital gains. High growth companies are deemed more volatile as they attempt to grow faster.

Summary

The plant will use Tesla’s Powerpack batteries to store energy from solar panels during the day, and then release it back into the grid during peak demand hours. This will help to even out the fluctuations in solar output, and provide a steadier stream of power to homes and businesses. The plant is still in the development stage, but Tesla is already taking orders for the Powerpack batteries.