A new battery storage project in Alaska is being driven by Tesla Megapacks.

The two electric utility firms involved are anticipated to experience significant cost reductions as a result.

The $63 million project included the installation of 24 Megapacks on land.

The businesses predict that over a period of 15 years.

They expect to save about $121 million thanks to the Megapacks, which will result in cheaper prices for customers.

full operation is expected to begin in October 2024.

The battery technology will reduce the utilities' dependence on gas as well.

Gas turbine generators do not need to be started because it is possible to instantaneously tap into the batteries.