Tesla's Autobidder Enters the European Energy Market

Featured image: Secron Capital / YouTube

Tesla enters the European energy market with its Autobidder platform, which is used to monetize energy storage assets such as Powerwall, Powerpack, and Megapack.

Autobidder is the company's latest product in the energy department. This is 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.

The European Power Exchange (EPEX SPOT) announced that Tesla has joined the exchange. “Congratulations to Tesla for starting your first day of trading with us! We are happy to have you on board,” says the company’s announcement on LinkedIn.

The European Power Exchange EPEX SPOT SE and its affiliates operate physical short-term electricity markets in Central Western Europe and the United Kingdom. As part of EEX Group, a group of companies serving international commodity markets, EPEX SPOT is committed to the creation of a pan-European power market.

Autobidder provides independent power producers, utilities, and capital partners the ability to autonomously monetize battery assets. Autobidder is 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.

The platform 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.

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.

Tesla Autobidder will contribute to the growth of Tesla Energy. It reveals another facet of Tesla that most analysts overlook. Autobidder seems to be a step in that direction.