This Tesla Powerwall owner didn’t realize there was a blackout amid intense heat wave

Simon Alvarez

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Posted on February 12, 2019

A Tesla Powerwall 2 owner is thanking his home battery system after it allowed him and his family to stay cool and comfortable despite a widespread blackout in the middle of a heat wave last week in Sydney, Australia.

After power was cut in his area, homeowner Carl Prins received a text message from his Tesla mobile app informing him that his Powerwall 2 battery was in backup mode. As the Sydney resident would later find out, around 45,000 properties in the city’s eastern suburbs were without power at the time, due to a widespread power outage resulting from overgrown weeds near an electrical substation.

Over the course of the roughly hour-long blackout, Prins kept cool using his home’s air conditioners. He also watched TV while taking care of his baby daughter. The homeowner noted in a statement to The Sydney Morning Herald that his system’s transition from grid power to battery power was so seamless, he did not even notice that there was a power outage.

“I didn’t initially realize the power had gone out, but then I got a text notification from the app to say that it was now in backup mode.” 

Last Thursday’s power outage hit Sydney at 11:26 a.m, right in the middle of a heatwave. The blackout disrupted council services and left medical facilities running on backup generators, while forcing some shops to close. Houses, even those fitted with rooftop solar panels but without the ability to store the energy, were forced to wait out the blackout. Power was restored to all affected areas by 12:37 p.m., just over an hour after the outage started.

The Sydney homeowner was unaffected by the power outage, as his house was fitted with both solar panels and a Tesla Powerwall 2 battery, which stores excess energy and performs load shifting to maximize energy cost savings. Without this system, Prins noted that he and his family would have had to travel to a shopping center or a library to keep cool.

“We would have had to get in the car and go to Westfield shopping center or the library to stay cool,” he said.  

The Tesla Powerwall 2 features a 13.5 kWh lithium-ion battery and retails for around AU$12,000 (around US$8,500) in Australia. Prins’ home battery system was installed last September after five months on a waiting list. The homeowner noted that his Powerwall has resulted in energy savings, with his power bills now around AU$600 (around US$420) per year compared to AU$4,000 (around US$2,800) per year before the battery’s installation.

The use of solar power for residential properties continues to get more prevalent in Australia, with an estimated 2,000,000 homes having rooftop solar systems. Around 20,000 of these homes are estimated to be equipped with battery storage solutions like the Tesla Powerwall 2. The Powerwall 2 battery is also a key component of Tesla’s planned 50,000-strong Virtual Power Plant for South Australia. 

This Tesla Powerwall owner didn’t realize there was a blackout amid intense heat wave

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Tesla’s updated deadline for referral program winners shows focus on logistics

Simon Alvarez

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Posted on February 12, 2019

Tesla has announced that all winners of the recently-concluded Referral Program must select their prizes by February 28. After this date, those eligible for rewards would not be able to redeem their prizes anymore. Based on the deadline cited by Tesla, it appears that the electric car maker is aiming to start the second quarter of 2019 on a clean slate, as it pursues sustainable profits and a steady Model 3 ramp.

Prior to the recent update, Tesla’s deadline for the selection of referral program prizes was listed on April 1, 2019. Tesla has not revealed its reasons behind its updated deadline, though based on the company’s recent challenges in Europe, there is a good chance that the February 28 date was set as a means to optimize logistics in the coming quarters. Despite most of the items related to the rewards system likely being in Tesla’s inventory (such as wall connectors and wheels), the processes involved with ordering, processing, and shipping the prizes are no joke. Factor in possible returns and other fulfillment issues and the logistics involved in the referral program’s distribution of prizes becomes even more notable. 

By moving the deadline for the referral program’s prize selection to February 28, Tesla appears to be ensuring that its logistics capabilities are not weighed down unnecessarily in the coming months, especially as the company prepares for the upcoming rollout of the Mid Range Model 3 RWD to international markets. Tesla learned in its first European Model 3 shipment that the processes involved in moving vast numbers of vehicles to customers in a foreign country are no joke. That said, these recent challenges are but the tip of the iceberg for Tesla, as thousands more would be coming to China and Europe in the coming months.

Tesla appears set to operate using a lean, optimized team this year, as evidenced by the 7% workforce reduction that the company implemented last month. As it tackles its most ambitious year yet, Tesla seems set on focusing its workforce in pursuing high-value tasks such as expanding its service network and helping ensure a smooth Model 3 ramp. In this light, it would be far more preferable for Tesla’s logistics team to busy itself with tasks far more urgent than fulfilling referral program prizes.

Below are the timelines for the redemption of Tesla’s referral program awards.

  • Launch Your Photo into Deep Space Orbit: Additional details will be emailed ahead of the launch.
  • Signature Black Wall Connector: Current shipping times are 6-8 weeks.
  • Model S for Kids: Model S for Kids will be shipped directly from Radio Flyer in April. Those who choose to donate to a children’s charity will receive an email from the organization when the donation has been completed.
  • 21” Arachnid Wheels for Model S or 22” Turbine Wheels for Model X: Wheels are shipped to your selected Service Center 6-8 weeks after award selection. Your Service Center will contact you once your wheels are available for pick-up.
  • Forged Performance Wheels for Model 3: Model 3 wheels will be available for installation beginning Summer 2019.
  • One Week with Model S or Model X: You will be contacted by your selected location based on availability. If you do not use this award, it may be given to a friend.
  • Priority Access to Vehicle Software Updates: Priority software access will automatically be granted until December 31, 2020.
  • Unveiling Event Invitations: Invitations will be emailed ahead of each unveiling event. Once each event is at capacity, remaining winners will be invited to the following unveiling event, prioritized by time of award qualification.
  • Tesla Credit: Credits are applied to your account within 1-2 weeks of selection from the app or solar referral email survey. All credits expire after 12 months.
  • Cash: Once survey responses are selected, checks will be issued within 4-6 weeks.
  • Founder Series Powerwall 2: Founder Series Powerwalls will be shipped in 2019. In Europe, Middle East and Asia-Pacific, customers can select credit toward other products in lieu of this award.

Tesla’s recent update on the referral program’s awards selection deadline could be accessed here.

Tesla’s updated deadline for referral program winners shows focus on logistics

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Tesla shares rise with optimistic $35K Model 3 outlook, $450 price target, and ‘Buy’ rating from Canaccord

Simon Alvarez

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Posted on February 11, 2019

Tesla stock (NASDAQ:TSLA) received a notable vote of confidence this Monday, with investment firm Canaccord Genuity predicting a massive rally this year amidst the electric car maker’s efforts to close in on the production of the $35,000 Model 3. In its recent note, Canaccord upgraded TSLA from a hold to a buy rating. The company’s 12-month price target for the electric car maker was also raised from $330 to $450 per share, representing a 40% rally from TSLA’s closing price of $305.80 last Friday.

In a note to clients on Monday, Canaccord analyst Jed Dorsheimer stated that the Street appears to be underappreciating the increasing prevalence of electric vehicles on the auto market. The company also pointed out that it expects Tesla to run into fewer challenges this year.

“The EV penetration story is underappreciated by the Street. We see a more stable 2019 with far fewer concerns for investors in the company,” the Canaccord analyst wrote.

While the company’s skeptics viewed the recent price adjustments that Tesla rolled out to its vehicles as a point of criticism, Dorsheimer notes that the electric car maker’s decision to lower the cost of its cars is proof that the cost-cutting and right-sizing initiatives the company has undertaken are resulting in progress in its efforts to produce the $35,000 Model 3. The analyst also notes that Tesla’s financials are showing some degree of strength over the previous quarters.

“We view the recent string of price cuts as further proof that the cost-cutting and right-sizing that the company has undertaken are resulting in concrete movement towards the ultimate goal of an affordable $35,000 Model 3. With the strong operating cash flow generation of $1.23B and cash on the balance sheet of $3.7B, the liquidity concerns and convertible note repayment are no longer valid concerns in our view,” the analyst wrote.

Apart from an optimistic outlook on Tesla’s continuing Model 3 ramp and the company’s finances, Canaccord also noted that concerns around Tesla’s governance have been addressed by the addition of the company’s two new independent board members — Larry Ellison and Kathleen Wilson-Thompson — both of whom appear to be working well with CEO Elon Musk. Canaccord also mentioned Tesla’s Autopilot driver-assist system as a difference-maker in the self-driving field, considering the company’s lead over its competitors and the potential of autonomous driving as a whole in the future of transportation.

Amidst Canaccord’s upgrade, Tesla continues to pursue international deliveries for the Model 3. Over the past week, Tesla has begun deliveries in the European region, with Elon Musk even dropping by on the company’s Tilburg plant to deliver some vehicles himself. Tesla’s efforts to promote the Model 3 in China are also underway, with test drives ongoing in several key cities. Tesla’s determination in China was evident in an incident last week after a test drive Model 3 Performance unit crashed in Shenzen, China. Despite concerns that Shenzen might not have another test vehicle for a while due to the accident, Tesla was able to ship another Model 3 Performance to the city quickly, allowing it to restart its test drive program almost without a hitch.

So far, Canaccord’s updated ratings on Tesla appear to be received well by the company’s investors. As of writing, Tesla stock is trading up 3.47% on Monday’s open, trading at $316.49 per share.

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

Tesla shares rise with optimistic $35K Model 3 outlook, $450 price target, and ‘Buy’ rating from Canaccord

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