Source: Fortune
Summary
Google and Tesla are partnering to lower electricity costs and improve the efficiency of the electrical grid through a coalition called Utilize. The coalition aims to address the underutilization of the electric grid, which is operating at 53% capacity on average. They propose solutions such as battery storage and distributed energy resources. The coalition includes other companies like Carrier, Verrus, Span, Renew Home, and Sparkfund.
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The numbers tell one story.
Google and Tesla’s partnership, Utilize, is tackling the issue of high electricity costs, which have risen by 30% between 2021 and 2025. The coalition’s research suggests that Americans could save up to $100 billion over a decade through system improvements. Utilize is working with state governments and utility companies to increase grid utilization, with a first win in Virginia where a grid-utilization bill has passed both legislative chambers. Ian Magruder, Utilize Executive Director, likens the underutilized grid to an airplane that only flies with full passengers a few times a year.
The announcement sounds like a solution to a problem that’s been hiding in plain sight.
Author: Evan Null
