07/03/2020

US Hi-Tech Energy Agency Chief Aims to Outperform Tesla

A wing of the U.S. Department of Energy focused on breakthrough technologies may soon give billionaire entrepreneur Elon Musk’s most recent foray into energy storage a run for its money, the unit’s director said.

Advanced Research Projects Agency-Energy, or ARPA-E, which funds projects meant to transform energy markets, has made huge strides over the last few years on next-generation batteries that could make electric cars and renewable energy cheaper and more accessible, Ellen Williams said in an interview this week.

The battery division of Musk’s Tesla Motors turned a profit in the fourth quarter, after the first shipments of its rechargeable products helped to reduce losses from the company’s auto business. Its Powerwall batteries store energy that homes and small businesses generate with solar panels. The Powerpack model is designed for large commercial facilities.

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