Tyler Hamilton,
Clean Technology and Renewable Energy Market Expert, Author of Mad Like Tesla
Tesla and the Modern Renewable Energy Industry:
"Tesla was a big supporter of using water to generate electricity and was behind the design and construction of the first hydroelectric generating stations in Niagara Falls, which operated using his alternating current-based generators. Tesla didn't specifically inspire currently popular renewable technologies such as wind and solar, but he did talk frequently about using temperature differentials — such as different temperature layers in the ocean — to generate electricity, so solar energy is indirectly related to this as all heat on the earth comes from the sun. He also talked about the earth's atmosphere as a huge battery that stores energy from the sun that can be harnessed. In this sense, the earth's atmospheric is like a giant capacitor holding a charge, which is occasionally released in the form of lightning.
I think more than anything, Tesla inspired current-day renewable energy entrepreneurs and inventors to think outside the box and take unconventional approaches to energy generation that challenges the current fossil-fuel based system."
Underfunded Green Companies:
"Many green energy companies find it difficult to raise money and when they run out of money, they disappear and are forgotten. The reason is because governments have been cutting back on early stage funding, but also, the private sector has become less willing to take risks. Venture capitals find it safer, for example, to put money into software companies than hardware and development companies. Software can be developed faster and with fewer resources, and once proven, can be replicated effortlessly and at minimal cost. Green energy companies are mostly about development and the hardware that goes into that development. For example, designing a new wind turbine or solar technology or efficient turbine, etc… takes a lot of upfront money and patience, and investors these days aren't known to have patience — they want their investments to make money for them within two to three years, not seven to 10 years, which is typical for green energy companies. "
Long Term Tesla Impact on Renewable Energy Technology:
"When you say Tesla's technologies, I'm assuming you mean Tesla Motors. I think we're on the verge of a tipping point for renewable energy, if we haven't already passed that tipping point. Growth of renewable energy development has been accelerating, and this is particularly the case with solar PV, where we've seen a dramatic drop in costs and a dramatic increase in installations — in the order of 20 per cent growth annually. Tesla Motors has recently launched a new energy storage business, which I think is very important because it will help unlock the potential of solar technologies even further by driving down the cost of storage. Currently, the technology only works when the sun shines, meaning it's not very useful during the night or on cloudy days. Energy storage changes that — you say the sunshine for a rainy day, basically. By pairing energy storage with solar, you can theoretically eliminate all fossil fuel use on the planet using an area of land one quarter the size of Arizona and using storage that covers the area of a small city. Tesla knows energy storage is key, and since it needs storage for its electric vehicle business, it is natural for the company to dive deep in the energy market. The fact Elon Musk, Tesla's founder and CEO, is also chairman of SolarCity means he has an ally on the solar side of things."
"Tesla was a big supporter of using water to generate electricity and was behind the design and construction of the first hydroelectric generating stations in Niagara Falls, which operated using his alternating current-based generators. Tesla didn't specifically inspire currently popular renewable technologies such as wind and solar, but he did talk frequently about using temperature differentials — such as different temperature layers in the ocean — to generate electricity, so solar energy is indirectly related to this as all heat on the earth comes from the sun. He also talked about the earth's atmosphere as a huge battery that stores energy from the sun that can be harnessed. In this sense, the earth's atmospheric is like a giant capacitor holding a charge, which is occasionally released in the form of lightning.
I think more than anything, Tesla inspired current-day renewable energy entrepreneurs and inventors to think outside the box and take unconventional approaches to energy generation that challenges the current fossil-fuel based system."
Underfunded Green Companies:
"Many green energy companies find it difficult to raise money and when they run out of money, they disappear and are forgotten. The reason is because governments have been cutting back on early stage funding, but also, the private sector has become less willing to take risks. Venture capitals find it safer, for example, to put money into software companies than hardware and development companies. Software can be developed faster and with fewer resources, and once proven, can be replicated effortlessly and at minimal cost. Green energy companies are mostly about development and the hardware that goes into that development. For example, designing a new wind turbine or solar technology or efficient turbine, etc… takes a lot of upfront money and patience, and investors these days aren't known to have patience — they want their investments to make money for them within two to three years, not seven to 10 years, which is typical for green energy companies. "
Long Term Tesla Impact on Renewable Energy Technology:
"When you say Tesla's technologies, I'm assuming you mean Tesla Motors. I think we're on the verge of a tipping point for renewable energy, if we haven't already passed that tipping point. Growth of renewable energy development has been accelerating, and this is particularly the case with solar PV, where we've seen a dramatic drop in costs and a dramatic increase in installations — in the order of 20 per cent growth annually. Tesla Motors has recently launched a new energy storage business, which I think is very important because it will help unlock the potential of solar technologies even further by driving down the cost of storage. Currently, the technology only works when the sun shines, meaning it's not very useful during the night or on cloudy days. Energy storage changes that — you say the sunshine for a rainy day, basically. By pairing energy storage with solar, you can theoretically eliminate all fossil fuel use on the planet using an area of land one quarter the size of Arizona and using storage that covers the area of a small city. Tesla knows energy storage is key, and since it needs storage for its electric vehicle business, it is natural for the company to dive deep in the energy market. The fact Elon Musk, Tesla's founder and CEO, is also chairman of SolarCity means he has an ally on the solar side of things."