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<ul class="summary-list"><li><keyword id="19895433" type="General" weightage="20" keywordseo="Tesla" source="keywords" meta.keywordsubtype="org" meta.entityname="Tesla" meta.hostid="261" meta.entityid="Tesla">Tesla</keyword> reported blowout earnings this week, but its biggest growth driver wasn't cars or robots.</li><li>Its energy business grew by over 50% year over year, earning Tesla over $7 billion in revenue so far in 2024.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/tesla">Tesla</a> has a secret weapon, and it's not <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-robotaxi-empire-scrutiny-fsd-full-self-driving-2024-10">Elon Musk's robotaxi</a> or the <a target="_blank" class="" href="https://www.businessinsider.com/tesla-optimus-robots-bartending-controlled-by-humans-2024-10">Optimus bot</a>. The company reported blowout earnings on <a target="_blank" class="" href="https://www.businessinsider.com/tesla-earnings-analyst-reactions-basics-selling-electric-vehicles-robotaxi-2024-10">the strength of its automotive sales</a> on Wednesday — but its biggest growth area was Tesla's burgeoning business selling batteries and solar panels, not electric cars. Revenue for Tesla's energy generation and storage business was nearly $2.4 billion in the third quarter of 2024, up 52% from the same period last year. That's a big jump compared to revenue from Tesla's automotive sales, which <a target="_blank" class="" href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf">rose by 2%</a> over the same period. The energy business's revenue so far this year exceeds $7 billion, meaning that it now accounts for nearly 10% of Tesla's total revenue. The segment primarily includes Tesla's sales of solar panels and its <a target="_blank" class="" href="https://www.businessinsider.com/tesla-announces-megapack-giant-new-battery-product-2019-7">Megapack</a> and <a target="_blank" class="" href="https://www.businessinsider.com/rechargeable-battery-options-compete-tesla-2017-5">Powerwall</a> battery storage systems. It typically garners less attention than flashy but less lucrative projects like <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-robotaxi-cybercab-tsla-fsd-elon-musk-ross-gerber-2024-10">Tesla's robotaxi and Optimus humanoid robots</a>. Still, it has fast become a vitally important source of income for the automaker. The growth of Tesla's energy business was noted by Musk in the company's Q3 earnings call on Wednesday, with the Tesla CEO describing it as a "gigantic opportunity" for the automaker. "The <keyword id="20368669" type="General" weightage="20" keywordseo="energy-storage" source="keywords">energy storage</keyword> business is growing like wildfire, with strong demand for both <keyword id="23762419" type="General" weightage="20" keywordseo="Megapack" source="keywords">Megapack</keyword> and <keyword id="23762420" type="General" weightage="20" keywordseo="Powerwall" source="keywords">Powerwall</keyword>," Musk said. The billionaire said that Tesla's Megapack factory in Lathrop, California, had hit an important production milestone of 200 units per week. <a target="_blank" href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf">Tesla also </a><a target="_blank" class="" href="https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf">told investors</a> that the company had installed a record number of Powerwall systems for the second quarter in a row. Tesla is also <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-plans-new-megapack-factory-in-china-2023-4">building a Megapack factory in Shanghai,</a> which is expected to begin mass production in the first quarter of 2025. Megapack is a commercial battery system used by grid providers to store energy and help avoid power outages. This is especially important as more providers switch to renewable energy sources that <a target="_blank" class="" href="https://www.businessinsider.com/biden-largest-federal-investment-ever-try-fix-power-grid-2023-10">can be more intermittent than fossil fuels</a>. Tesla says one Megapack can store over 3.9 MWh of energy, enough to power an average of 3,600 homes for one hour. The company sells them for around $1 million apiece. The Powerwall, meanwhile, is a home battery that allows customers to store energy generated by solar panels and use it to power their homes. <a target="_blank" class="" href="https://www.tesla.com/energy/design/overview">It costs around $16,000 </a>before incentives, and Tesla offers it in a package with the company's solar panels and "solar roof" product. Correction: October 25, 2024 — An earlier version of this story misstated the cost of a Megapack. One costs about $1 million, not $5 million.

Tesla's energy storage business was the highlight of its blowout earnings, and Elon Musk says it's 'growing like wildfire'

<ul><li><keyword id="20940216" type="General" weightage="20" keywordseo="Synology" source="keywords" meta.keywordsubtype="org" meta.entityname="Synology" meta.hostid="261" meta.entityid="Synology">Synology</keyword> has showcased its upcoming enterprise solutions in India.</li><li>The Taiwanese <keyword id="20653112" type="General" weightage="20" keywordseo="storage-solutions" source="keywords">storage solutions</keyword> provider has revealed its enterprise-level solution blueprint for India.</li><li>The company has announced new GenAI-powered features for its Office Suite.</li></ul> Taiwanese storage solutions provider Synology has launched its new enterprise-level solution blueprint in India at its Synology Solution showcase held in India. The announcement comes as the first enterprise application blueprint in India and is a significant part of the company’s expansion plans in India. Since 2021, the company has recorded a 600% growth in business sector revenue in India, contributing to a total revenue growth of 350%. The company showcased its latest offerings in data protection, storage, and surveillance, emphasizing solutions designed to address the growing demands of modern enterprises. <h2>Synology showcases new products</h2>The company showcased its upcoming products, including the ActiveProtect appliances, which were first<a href="https://www.businessinsider.in/tech/news/synology-introduces-new-products-aimed-at-data-protection-and-scalability/articleshow/110711086.cms"> announced</a> during the company’s Synology Solution Exhibition 2024. The ActiveProtect lineup includes dedicated backup systems that are optimised for rapid deployment and scalability. This backup solution is aimed at simplifying deployment and it can manage up to 2,500 multi-server environments across multiple sites. <div type="Article" hostid="261" msid="111748677" title="Synology bets big on the Indian market amid strong growth, growing demand" mstype="2" mssubtype="0"></div> “The ActiveProtect series focuses on data recovery and immutability, making it a reliable tool for IT professionals to ensure data security. Its multi-site friendly design aligns perfectly with India's business structure,” said Russell Chen, country manager, SAARC Region, Synology. The company also showcased its scale-out storage solutions and advanced surveillance solutions at the event. “Driven by the demand of technology trends, such as AI, IoT, digital transformation, and so on, Synology has performed exceptionally well in the Indian enterprise market, especially in sectors like government, manufacturing, and media and entertainment. Moving forward, we will continue to dedicate ourselves to meeting the modern storage needs of growing enterprises,” said Michael Chang, APAC sales head, Synology. The developing scale-out solution delivers scale-out storage, supporting both file and object storage and performance growth when adding additional storage servers. Synology also introduced its C2 Surveillance Station, which is a cloud-based video surveillance solution with edge AI and multi-layer encryption. The company is enhancing its <keyword id="19999884" type="General" weightage="20" keywordseo="AI-capabilities" source="keywords">AI capabilities</keyword> with the Synology AI Console, integrating GenAI into the Office Suite. According to the company, this will allow organisations to use the latest large language models (LLMs) while maintaining strict control over data privacy and security. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/mobile/news/snapdragon-8-elite-announced-to-power-iqoo-13-oneplus-13-xiaomi-15-series-and-more/articleshow/114463844.cms">Snapdragon 8 Elite announced, to power iQOO 13, OnePlus 13, Xiaomi 15 series and more</a>

Synology introduces new enterprise solutions, reports significant growth in India

Houston: Petroleum minister <keyword id="19968713" type="General" weightage="20" keywordseo="Hardeep-Singh-Puri" source="keywords">Hardeep Singh Puri</keyword> lauded India's economic growth under Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword>, saying the country has advanced from the 10th largest economy in 2014 to the 5th largest by 2019, surpassing the UK. Speaking at a community reception, organized by Consul General of India in Houston, D C Manjunath, at India House here, Puri emphasized Houston's pivotal role in the global energy sector, particularly in green hydrogen and aerospace. Expressing his thoughts about deepening <keyword id="22356868" type="General" weightage="20" keywordseo="US-India-collaboration" source="keywords">US-India collaboration</keyword> in the clean energy sector, Puri praised India's refining capacity and initiatives in biofuel blending, aiming to boost refining capacity to 300 million metric tons per annum. He termed the US-India Strategic Clean Energy Partnership as a cornerstone of future collaboration between the two countries. He acknowledged the political successes of Prime Minister Modi's party in the recent elections and said the country under Modi's regime has advanced from the 10th largest economy in 2014 to the 5th largest by 2019, surpassing the UK. The minister also pointed towards the Indian government's ambitious urban development initiatives, saying that the country has committed USD 25 billion (Rs 1.57 lakh crore) to urban schemes from 2017 to 2024. He compared this investment to constructing a new Chicago each year, illustrating the rapid expansion of urban infrastructure, including new metro systems and airports. He also noted that India's civil aviation sector is set to grow significantly, with the number of airports increasing from 74 to 150. Puri lauded Houston as a global hub for energy innovation and said events like "Howdy Modi" in 2019 showcased the strength of Indian-American relations. The minister paid tribute to the contributions of the Indian diaspora in various fields, particularly in medicine and engineering, while emphasizing the importance of maintaining cultural traditions, even while living abroad. He expressed gratitude for the warmth and hospitality received from the Indian community in Houston, acknowledging their role in enhancing India's global image.

India advanced from 10th place in 2014 to become 5th largest economy in 2019: Petroleum minister Hardeep Singh Puri

According to a recent online survey by <a href="https://m.economictimes.com/industry/renewables/budget-2024-survey-whats-stopping-indians-from-buying-evs/articleshow/107132645.cms" data-type="tilCustomLink">The Economic Times</a>, the majority of Indians cite one recurring issue holding them back from fully transitioning to an electric vehicle: range anxiety. Unlike petrol stations — whose vast numbers can almost rival the pani puri sellers in our country — <keyword id="20111395" type="General" weightage="20" keywordseo="charging-infrastructure" source="keywords">charging infrastructure</keyword> for EVs remainly severely limited in even our developed metro cities, much less the rest of the country. But imagine a future where a short chai and stretch break is enough to fully charge your electric car on a road trip. This once-futuristic vision is inching closer to reality, thanks to pioneering new study co-written by <keyword id="20756106" type="General" weightage="20" keywordseo="Ankur-Gupta" source="keywords">Ankur Gupta</keyword>, a researcher of Indian origin at the University of Colorado. The research, which leverages the movement of tiny charged particles called ions, holds immense promise in revolutionising <keyword id="20368669" type="General" weightage="20" keywordseo="energy-storage" source="keywords">energy storage</keyword>, making devices faster and more efficient than ever. Reports have suggested that this harnessing this technology could help charge a dead smartphone within a minute, or an electric car in just ten minutes. The charges that drive electricity work shockingly similar to fluids. For example, it isn’t entirely inaccurate to compare a battery to a pump that helps to maintain a constant flow of water. Gupta’s innovative research draws inspiration from similar fluidic processes, and pushes it to the extreme. The study repurposes chemical engineering techniques traditionally used for studying fluid flow in porous materials, such as oil reservoirs and water filtration systems. In particular, they focused on <keyword id="21612024" type="General" weightage="20" keywordseo="supercapacitors" source="keywords">supercapacitors</keyword> — battery-like energy storage devices used in EVs known for their rapid <keyword id="6453703" type="General" weightage="20" keywordseo="charging" source="Orion">charging</keyword> capabilities and longevity. “Supercapacitors are prized for their speed,” Gupta explained. “Our challenge was to accelerate the charging and discharging processes by enhancing ion movement efficiency.” You can think of an ion as a frenzied atom or molecule that carries a charge. This makes them highly reactive and constantly attracted to other particles with the opposite charge. The flow of ions makes part of what we know as current in our electronics. Meanwhile, supercapacitors store energy by accumulating ions in their pores. Gupta’s team discovered that ion movement at the intersections of these pores deviates significantly from what Kirchhoff’s law describes. This law, established in 1845, governs current flow in electrical circuits and is a cornerstone of electrical engineering. Ankur’s research is thus, quite literally, rewriting electrical engineering as we know it. By harnessing what they learned from this groundbreaking research, Gupta and his team believe that we can massively improve the movement of ions through supercapacitors, thereby improving the rate with which we charge and release energy. The implications of this research extend beyond personal electronics to <keyword id="19895203" type="General" weightage="100" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> and power grids, where efficient energy storage is crucial to balancing supply and demand. As the global demand for efficient and sustainable energy solutions grows, Gupta's research marks a pivotal step forward. It opens up a world of possibilities for energy storage innovation, potentially making ultra-fast charging a commonplace feature in the near future. “The future of our planet hinges on <keyword id="21427498" type="General" weightage="20" keywordseo="energy-innovation" source="keywords">energy innovation</keyword>,” Gupta remarks. “We found the missing link.” The findings of this research have been published in Proceedings of the National Academy of Sciences and can be accessed <a href="http://dx.doi.org/10.1073/pnas.2401656121" data-type="tilCustomLink">here</a>.

Goodbye, EV range anxiety? Indian-origin researcher unveils technique to fully charge electric vehicles within minutes!

<keyword id="4625572" type="General" weightage="20" keywordseo="indian-renewable-energy-development-agency" source="Orion">Indian Renewable Energy Development Agency</keyword> Ltd (<keyword id="391336" type="General" weightage="100" keywordseo="ireda" source="Orion">IREDA</keyword>) has opened an office in <keyword id="6424024" type="General" weightage="20" keywordseo="gift-city" source="Orion">GIFT City</keyword> at Gandhinagar which will specialise in providing debt options denominated in <keyword id="90766" type="General" weightage="20" keywordseo="foreign-currencies" source="Orion">foreign currencies</keyword> to facilitate natural hedging and significantly reduce the financing costs for green hydrogen and renewable energy manufacturing projects, the Ministry of New and Renewable Energy said on Thursday. The strategic initiative which would contribute to the country's journey towards a greener future was highlighted by IREDA chairman and managing director (CMD) Pradip Kumar Das at a panel discussion on 'Future Growth Opportunities for Long Duration <keyword id="1609428" type="General" weightage="20" keywordseo="energy-storage" source="Orion">Energy Storage</keyword>', held at the World Future Energy Summit 2024 in Abu Dhabi on Wednesday. The IREDA CMD emphasised the critical role that energy storage will play in achieving the <keyword id="13194051" type="General" weightage="20" keywordseo="national-green-hydrogen" source="Orion">National Green Hydrogen</keyword> Mission's ambitious target of producing over 5 million metric tons of hydrogen per annum by 2030. The CMD emphasised the need to enhance research and development efforts to reduce cost and improve the performance of energy storage solutions. It was necessary to implement policies that strengthen the supply chain network, and providing competitive and tailored financial solutions will encourage investment in energy storage projects, he added. India has taken active steps in this direction, which include the formulation of a storage requirement roadmap up to 2047, technology-agnostic storage tenders, and supportive government interventions for battery manufacturing and pumped storage hydropower projects. The Central Electricity Authority of India projects a storage requirement of nearly 400 gigawatt-hours (GWh) by 2030-32, with an estimated investment exceeding Rs 3.5 lakh crore.

You Searched For "India energy storage systems" and got 5 results

Tesla's energy storage business was the highlight of its blowout earnings, and Elon Musk says it's 'growing like wildfire'

Tom Carter

Synology introduces new enterprise solutions, reports significant growth in India

Sourabh Jain

India advanced from 10th place in 2014 to become 5th largest economy in 2019: Petroleum minister Hardeep Singh Puri

PTI

Goodbye, EV range anxiety? Indian-origin researcher unveils technique to fully charge electric vehicles within minutes!

Ankush Banerjee

IREDA's GIFT City branch to give special foreign currency loans for green projects

IANS

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