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Tesla Motors CEO Elon Musk reveals a Tesla Energy battery for businesses and utility companies during an event in Hawthorne, Calif., April 30, 2015.
Patrick T. Fallon | Reuters

Tesla wants to sell electricity directly to customers in Texas, according to an application filed by the company this month with the Public Utility Commission there.

The application follows the start of a big battery build out by Tesla in Angleton, Texas (near Houston), where it aims to connect a 100 megawatt energy storage system to the grid. Texas Monthly first reported on the application, submitted by a wholly owned subsidiary of Tesla called Tesla Energy Ventures.

Tesla has also built several utility-scale energy storage systems around the world, including one east of Los Angeles, another underway in Monterey, California, and two in Australia — one in Geelong, Victoria, and another in Adelaide, South Australia.

However, Tesla hasn’t functioned as the retail electricity provider where it sets up these systems. Instead, big batteries built by Tesla tend to help other companies in energy generation, storage and consumption.

A cold snap seized Texas in February this year, stranding millions of residents without power or water for days on end.

Some officials initially blamed the intermittent nature of renewable energy, even though the state largely runs on fossil fuels.

It later emerged that state lawmakers and regulators, including the Public Utilities Commission and the Texas Railroad Commission (which is supposed to regulate the oil and gas industry) had ignored, or softened requirements to fix and prevent more vulnerabilities in the Texas electric grid. After prior blackouts, experts had called for efforts like weatherproofing facilities and turbines used to generate power with proper insulation and heaters.

The Texas grid is isolated from the rest of the U.S., so transmission of power from other states was not available to relieve those stuck in the cold. Instead, the Texas grid is managed by the Electric Reliability Council of Texas, or ERCOT, a nonprofit group that essentially schedules the flow of electricity to more than 25 million households in Texas.

During the blackout crisis in Texas, Tesla CEO Elon Musk needled ERCOT on Twitter, writing that the group was “not earning that R.”

Musk’s name was not directly listed on the Tesla Energy Ventures application. At the helm of that subsidiary, in the role of President, is Ana Stewart, Tesla’s director of regulatory credit trading.

As CNBC has previously reported, Musk’s electric car and solar panel company has been able to fatten its margins with sales of green credits through the years. For instance, in the second quarter of 2020, regulatory credit sales were greater than the company’s free cash flow and amounted to more than four times Tesla’s $104 million of net profit for the quarter.

Businesses who need them — typically including automakers, oil and gas providers, and retail energy providers — buy environmental regulatory credits to comply with regulations that limit the amount of greenhouse gases they are allowed to emit each year.

According to her resume, which was part of the application, Stewart has helped Tesla net over $3.8 billion from regulatory credits since 2017.

Should it gain approval as a retail electric provider in Texas, Tesla Energy Ventures will use employees from Tesla’s energy division — the same one that sells solar rooftops — to drum up sales and provide customer service in the state. Tesla’s application also notes that it will work with Engie Energy Marketing on scheduling.

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E-quipment highlight: Bobcat pitches electric telehandler concept

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E-quipment highlight: Bobcat pitches electric telehandler concept

Bobcat unveiled the all-new TL25.60e electric telehandler concept at Intermat last month, with a 2.5 ton rated capacity, three electric motors, and the promise of unmatched energy efficiency and performance that’s objectively superior to diesel.

The Bobcat TL26.60e gets its energy efficient edge from its “actively cooled” li-ion batteries, which are designed to deliver consistent performance in any weather and help fleet operators maintain low running costs while maximizing efficiency and, as a consequence, savings.

Those batteries send power to three separate electric motors, one each to power drive, the rotating superstructure/cab, and the boom/attachments. Bobcat says the arrangement helps its electric telehandler concept consume energy only when it’s needed, and claims that the setup provides immediate responsiveness for all the machine’s movements. That kind of quiet, vibration-free precision control should make the TL26.60e’s operator cab a great place to work from.

Speaking of the cab, it’s the same one found in Bobcat’s larger TLS models, despite the TL26.60e’s smaller footprint. The compact nature of the the machine’s electric components means there’s room for stuff like that – and, as a consequence, more room for operators.

“At Bobcat, we are committed to innovative design that prioritizes both cutting-edge technology and operator wellbeing,” says Vijay Nerva, Innovation Lead, Bobcat EMEA. “Our integration of ergonomics and digitization, exemplified by the transparent T-OLED screen, allows us to introduce customizable, interactive features without compromising the comfort and spacious design of our cabs.”

The TL26.60e features a top speed of 25 km/h, a 6 meter lifting height, and a 2.5 ton lifting capacity. The liquid-cooled battery has a 30 kWh capacity, which should be good for a full shift at most low-speed job sites.

Electrek’s Take

Bobcat’s electric telehandler concept is still just that, but as more and more construction companies come up agains no-drip job sites, low emissions zones, tightening noise regulations, and the ESG goals of both corporate and government clients, it seems like only a matter of time before machines like this become more the rule than the exception.

SOURCES | IMAGES: Bobcat, via Heavy Equipment Guide, Canada.

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Chevy cuts Equinox EV lease prices by nearly $140 per month

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Chevy cuts Equinox EV lease prices by nearly 0 per month

If you were looking to lease Chevy’s new all-electric Equinox, it just got a lot cheaper. Chevy cut Equinox EV lease prices by nearly $140 per month. With new offers, the Chevy Equinox EV can be leased for as little as $379 per month.

After kicking off Equinox EV deliveries last month, Chevy is already introducing significant savings opportunities.

On Chevy’s website, 2024 Equinox EV lease prices start at just $379 per month. The deal is for 36 months, with $3,198 due at signing. It includes 10,000 miles a year and is based on an MSRP of $43,295. GM included $500 off for qualified lessees.

With an effective rate of $468, the 2024 Chevy Equinox EV is nearly $100 cheaper per month to lease than the Tesla Model Y.

According to online research firm CarsDirect, Tesla Model Y lease rates went up $50 this month. The Long Range model now starts at $449 with $4,143 due at signing, or $564 per month.

Meanwhile, the RS trim is significantly discounted. The Chevy Equinox RS can be leased for $429 for 36 months. With $3,109 due at signing, that amounts to $515 per month.

Chevy-Equinox-EV-lease-prices
2024 Chevy Equinox EV 3RS (Source: GM)

Chevy Equinox EV lease prices drop to just $379/mo

Previously, the RS trim had an effective cost of $651 per month ($569 for 39 months and $3,209 due at signing), meaning it’s $136 cheaper per month to lease.

Based on CarsDirect data, GM raised the 36-month residual values on the RS model to 75% from 68%, while the lease rate dropped from 7.3% to 5.5%.

Chevy Equinox EV trim

Starting Price
1LT FWD $34,995
2LT FWD $43,295
2RS FWD $44,795
3LT FWD $45,295
3RS FWD $46,795
Chevy Equinox EV prices (including $1,395 destination fee)

Chevy’s current 2LT FWD is the cheapest model hitting dealerships, starting at $43,295. The lower-priced $34,995 will be available to order later this year. All trims are eligible for the $7,500 federal tax credit.

Although this is a significant deal, Chevy Blazer EV lease prices are even more appealing. The 2024 Chevy Blazer EV is listed at $369 per month for 24 months. With $1,679 due upfront, the effective lease rate is $439 per month, only $10 more than the gas-powered model.

Chevy-Equinox-EV-lease-prices
Chevy Equinox EV 1LT interior (Source: GM)

Chevy isn’t the only one cutting EV lease prices. Honda slashed lease prices on its first electric SUV, the Prologue. The 2024 Honda Prologue now starts at $399 per month for 36 months (with $3,999 due at signing).

If you’re in the market for a new EV, you can take advantage of significant savings opportunities. Use our links below to find deals on popular models at a dealer near you.

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Podcast: Tesla shareholders meeting, more lawsuits, ultra-fast charging, and more

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Podcast: Tesla shareholders meeting, more lawsuits, ultra-fast charging, and more

On the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the Tesla shareholders meeting, more lawsuits coming for Tesla, ultra-fast charging by Lotus, and more.

Today’s Podcast is sponsored by the Electrek American Solar Challenge 2024.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):

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