Tesla Autobidder, the company’s latest product in its Energy department, was recently revealed. Autobidder came to light after Tesla applied for a UK electricity provider license.
Tesla enthusiast @jpr007 defined Autobidder as “a real-time trading and control platform that provides value-based asset management and portfolio optimization, enabling owners and operators to configure operational strategies that maximize revenue according to their business objectives and risk preferences." In other words, Tesla developed software for independent power producers and utilities and capital partners to help them manage and monetize clean energy stored in battery storage systems.
Autobidder is already being used at the Hornsdale Power Reserve, which uses Tesla Powerpacks. The software can be used with Tesla Megapacks and Powerpacks but isn’t limited to Tesla products alone. As such, Tesla has developed software that could be useful at the residential and commercial level, making Autobidder a game-changer for the company’s Energy department.
AUTOBIDDER BY TESLA— JPR007 (@jpr007) May 3, 2020
Autobidder is succesfully operating at Hornsdale Power Reserve in South Australia and through market bidding has added competition to drive down energy prices
During the current pandemic, the advantages of renewable energy have become more prominent. Cost-efficiency would be the number one advantage of renewable energy. As the skies continue to clear--mostly from the lack of ICE vehicles on roads--solar energy generation has increased, revealing how renewable energy could be less costly and more effective in the long run.
As renewable energy supplies gain more traction throughout the world, demand for software like Tesla’s Autobidder could start to spike. By utilizing Tesla’s expertise with software development, Autobidder could make a play as one of the biggest contenders in this developing market.
Each feature of the software was extensively explained in Tesla’s official webpage for Autobidder. Its features include the following:
- Value Stacked Monetization
- Real-Time Market Operations
- Machine Learning and Optimization Algorithms
- Warranty Protection
It seems Tesla’s Autobidder is the refined version of the company’s Grid Controller, which was mentioned by the company in its Samoa project. In 2018, Tesla helped the island nation take its first steps toward 100% renewable energy with its Powerpacks by integrating 13.6 MWh of energy storage with Samoa’s solar, water, and wind power generators, reported CleanTechnica.
A video explaining Tesla’s project in Samoa briefly mentioned that the whole system was “optimized by the Tesla Grid controller.” The Grid Controller was also software developed by Tesla that promised to give the utility real-time control over grid stability, reliability, and security.
Tesla Autobidder will contribute to the growth of Tesla Energy. It reveals another facet of Tesla that most analysts overlook. During the Q3 2019 Earnings Call, Elon Musk said that Tesla Energy could be as big or even bigger than the company’s auto sector. Autobidder seems to be a step in that direction.
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About the Author
Ma. Claribelle Deveza
Longtime writer and news/book editor. Writing about Tesla allows me to contribute something good to the world, while doing something I love.