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Elon Musk files to get in on Texas energy market

(Bob Daemmrich)

Elon Musk is really getting cozy in his new home state of Texas. He's taken his various tech companies across the state and could be taking on a big statewide project next.

Musk has filed a new subsidiary of Tesla, Tesla Energy Ventures, with the Public Utility Commission of Texas to sell electricity. Tesla would be thrown in the ring with 120 other companies already in the Texas retail market for energy if approved this November.

So what makes it unique?

Tesla's energy could be drawn from the grid, like other companies, as well as from Tesla-made home batteries. It would also allow residents with solar panels to earn money for sharing their excess power with the grid—a contentious subject as the Texas power grid continues to be a hot topic after it failed Texans during the February winter storm.

The first to be targeted on this venture would be Tesla owners, according to the filing. With their experience using Tesla vehicles as a backup power source and some owning Tesla solar panels, it's only fitting these would be the loyal customers they could get.

Bloomberg reports Tesla Energy Ventures also plans to build two giant utility-scale batteries near Giga Texas in Austin and another location in Houston. The batteries will serve wholesale power companies in the state.

This is just one of the balls in the air for Musk, who has plenty of ongoing projects. According to Texas Monthly, Musk and Tesla had hoped to enter the Texas power market prior to the unprecedented winter storm.


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