Redflow says Tesla lifts storage profile, but it can still compete

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Australian battery storage developer Redflow says it welcomes the public profile created by the release of the Tesla battery storage products from Tesla, and insists that its technology will be able to compete in what will be a rapidly expanding market.

Tesla, as we know, has grabbed headlines and much interest with the release of its home, business and utility-scale battery storage products, and its pricing guide, which beats the offerings of any of its lithium-ion battery storage rivals by at least half.

The question for many investors, consumers and the energy industry has been: what does it mean for Tesla’s rivals?

Brisbane-based Redflow responded to those questions with a release to the stock exchange on Friday, reassuring investors that Tesla may have brought public attention to the possibilities of battery storage, but it will not conquer all in its wake.

Redflow CEO Stuart Smith says there is no doubt the release of Tesla’s lithium-ion battery modules has raised the public profile of “affordable energy storage as a disruptive technology that enables renewable generation sources to reduce reliance on fossil fuels, increase distributed generation and deliver energy independence.”… read more via RenewEconomy