Musk’s Tesla Wants to Power British Homes Next

Elon Musk isn’t stopping at selling Brits electric cars — now he wants to sell them the electricity to run them, too.

Tesla has officially asked UK energy regulator Ofgem for a license to supply power to households and businesses across England, Scotland, and Wales. The application, lodged late last month by Tesla Energy Ventures in Manchester and signed by European energy boss Andrew Payne, could see the company go head-to-head with Britain’s big energy suppliers as soon as next year.

Tesla’s not new to the power game. In Texas, its Tesla Electric service already sells energy, optimizes usage for EV owners, and even pays customers for feeding surplus electricity back into the grid. The company also makes solar panels and battery storage systems — a business that nearly doubled revenue last year.

The timing, though, is interesting. Tesla’s car sales in Europe have been taking a beating. In July, UK registrations plunged nearly 60% from a year earlier, with Germany down more than 55%. Competition from Chinese EV makers like BYD is fierce, and Musk’s political antics on both sides of the Atlantic haven’t exactly boosted the brand’s appeal.

Still, Tesla has already sold over a quarter of a million EVs and tens of thousands of home batteries in the UK, giving it a ready-made customer base for its power push. If Ofgem signs off — a process that can take up to nine months — Musk could soon be lighting up British homes as well as their driveways.

CNN, CNBC, and BBC contributed to this report.