Earlier this year, everyone’s favourite entrepreneur turned scientist/engineer made a bet that he could build the world’s largest lithium battery within the space of 100 days. The idea was that the battery would have the capacity to power over 30,000 homes in the event of severe blackout for at least an hour.
The facility which is being tested in the city of Jamestown is all set to launch officially soon and will be paired to the nearby Neoen Hornsdale Wind Farm for added stability. It is more likely to be used to stabilise power supplies on a regular basis.
The lithium battery and subsequent bet are part of South Australia’s 530 million dollar energy plan alongside the construction of backup generators. The plan comes after the state-wide blackout in September last year.
The budget for installation and production of the lithium battery has not been disclosed but many guess the costs were about 50 million dollars. If so, Musk is about to double his profits, after winning the bet with fellow tech entrepreneur Mike Cannon-Brookes, who has agreed to settle his 50 million dollar bet with Musk.
The two made the bet after Brookes challenged Musk to solve South Australia’s energy woes.
Musk accepted the challenge, adding if he couldn’t produce the battery within 100 days of signing the contract the battery and installation would be free.
Clearly, Musk was pretty confident he would win the bet, and to no one’s surprise Musk and his company is set to finish the project in just 60 days way ahead of schedule.
Brookes stated just last week, that he has never been happier to lose a bet.
Though Musk is not set to return to Australia for the launch, the tech billionaire is notoriously surprising.
"This is a great example to the rest of the world of what can be done," Musk said confidently.
Lead Image: Still from Before the Flood, Elon Musk wins the big bet