This has been the planet’s hottest summer in recorded history, so it’s nice to know Elon Musk has commenced his grand scheme to transform the energy business so profoundly that there’s a chance Iceland won’t become the new Jamaica after all.
One small step in Musk’s plan involves merging Tesla, his electric car company, with SolarCity, his cousin’s solar panel maker. That deal—announced in August—has been getting all sorts of blowback from short-term-thinking Wall Street nincompoops, who groan that both companies are losing money and the merger won’t help. Such doubts about Musk are like asking the Wright brothers in 1899 why they were fiddling with bicycle parts.
Future of Energy
There’s so much more at stake than just a company or stock price. The future of energy is coming into view, driven by Musk and a growing number of investors and entrepreneurs. In a decade or two, most homes and buildings will have cheap and superefficient solar panels on their roofs and high-powered batteries in their basements or garages. The batteries will store power generated when the sun shines for use when it doesn’t. Each of these buildings will be connected to a two-way power line that can allow anyone to sell excess energy or buy needed energy in an eBay-style marketplace.
Source: Elon Musk has a brilliant plan to kill ‘Big Oil’
