The utilities industry in the United States is happy and at the same time terrified of the Elon Musk battery. Just outside of Reno, Nevada bull dozers are getting rid of dirt of the battery factory of Tesla Motors Inc., and it is considered to be the biggest in the world.
The founder of Tesla, Elon Musk, deems the $5B factory an essential step toward enabling electric vehicles to be more affordable, and at the same time, ensuring that people do not have to completely rely on oil. This move also helps reduce greenhouse gas emissions.
At first glance it may seem that the push for more electric cars will enable an electric company boost its sales considering that utilities have been dealing with stagnant sales due to slow economic growth and energy conservation.
Then again, the Elon Musk battery gigafactory may soon become a threat to the business model of the utilities industry [...]