A major investor in the startup that is aiming to power solar energy with molten salt is Elon Musk, the billionaire investor who helped spearhead Tesla Motors’ foray into electric vehicles.
According to a report by The Wall Street Journal, Tesla Motors and SolarCity, which will be the first companies to produce the technology with molten-salt technology, signed a memorandum of understanding on Tuesday that will allow the companies to jointly explore the development of a commercial version of the technology.
Tesla Motors is also developing a battery with the company’s battery cell, which can store energy for long periods of time.
SolarCity is the company behind a battery called Powerwall that has been in development for years, and it has developed a molten-silicon battery with lithium-ion batteries.
The companies also announced a partnership for research and development of the technologies.
Musk and Solar City have worked together on several projects over the years, including the $5 billion purchase of a stake in SolarCity in 2011.
As part of their announcement, Musk and Solar County also announced the creation of a joint venture called SolarPower.
SolarPower is looking at deploying solar energy through an in-home solar installation, with the goal of powering homes with electricity for up to five years, the Journal reported.
While Musk has long championed solar energy as a solution to the country’s power crisis, his views on the technology have been in flux.
In October, he told the New York Times that solar energy would not be a “silver bullet” for the country and he has previously criticized Tesla’s battery technology.