Tesla as an electric utility? Maybe, and Autobidder could lead the way

Tesla may have an eye on the utility business in the future, and just as the world learns more about the company’s energy management software called Autobidder.

We start with the most intriguing part of the news that Tesla has applied to be a UK electricity supplier. The telegraph cited last weekend Unknown industry sources revealing the request come as the company tries to launch its autobidder platform locally. What is Autobidder? Essentially, it enables battery farm owners and home owners with solar panels to manage energy and turn their investment in renewable energy into a profitable company.

At its core, Autobidder works like automated stock trading software and is about the idea of ​​a “distributed system”. according to a report from Popular Mechanics On Monday. Anyone who has bought into the system uses a little excess energy from battery farms, solar panels or other energy sources that they may have back on the grid and is paid for it. The idea is that everyone benefits, since one party may not currently need the energy, but maybe another party.

The software has essentially been running in the Hornsdale Power Reserve in South Australia since 2017 a gigantic battery that Tesla runs To deliver energy to the region. According to the company, the company has had a good track record so far by making the local energy market competitive and lowering prices.

The UK could be the next stop for Tesla Energy to expand as the company continues to diversify and plant seeds in the energy storage segment. The company did not immediately respond to a request for comment.

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