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Tesla deployed document power storage, however photo voltaic is hurting


Tesla introduced right this moment that it deployed a document quantity of power storage capability final quarter, however its photo voltaic enterprise continues to be hurting.

The Megafactory, a brand new manufacturing plant producing Tesla’s Megapack in California, has been contributing to the speedy development of the corporate’s power storage enterprise over the past 12 months.

As we speak, Tesla launched its Q3 2023 monetary outcomes and confirmed that it delivered a brand new document quantity of power storage final quarter:

Power storage deployments elevated by 90% YoY in Q3 to 4.0 GWh, our highest quarterly deployment ever. Continued development in deployments was pushed by the continuing ramp of our Megafactory in Lathrop, CA towards full capability of 40 GWh with the section two growth. Manufacturing charge improved additional sequentially in Q3.

At 4 GWh in Q3, Tesla has an annual manufacturing of 16 GWh and continues to be ramping up in Lathrop.

Tesla shared right this moment this new picture from contained in the manufacturing unit:

The automaker additionally produced a chart highlighting the spectacular development in power storage over the past 12 months:

Whereas the power storage enterprise is at an all-time excessive, Tesla’s accompanying photo voltaic enterprise has dropped to a brand new low that we haven’t seen shortly:

Photo voltaic deployments declined on a sequential and YoY foundation to 49 MW. Sustained excessive rates of interest and the tip of web metering in California have created downward strain on photo voltaic demand.

On high of the factors talked about by Tesla right here, we additionally lately reported that Tesla’s photo voltaic enterprise goes by way of a change during which the corporate is deploying much less photo voltaic itself and as an alternative offering its merchandise to third-party installers.

Within the monetary outcomes, Tesla additionally famous that its “companies and different” class, which power storage and photo voltaic fall below, at the moment are contributing to earnings considerably:

Sadly, Tesla doesn’t break down the monetary efficiency of all its enterprise items, however perhaps it should begin doing so for power storage as it’s beginning to develop into an enormous enterprise.

In case you are seeking to set up photo voltaic by yourself dwelling, to discover a trusted, dependable photo voltaic installer close to you that provides aggressive pricing, take a look at EnergySage. EnergySage is a free service that makes it straightforward so that you can go photo voltaic – whether or not you’re a house owner or renter. They’ve lots of of pre-vetted photo voltaic installers competing for your online business, making certain you get high-quality options and save 20-30% in comparison with going it alone. Plus, it’s free to make use of, and also you received’t get gross sales calls till you choose an installer and share your telephone quantity with them. EnergySage can assist you examine quotes with photo voltaic installers who carry Tesla Powerwalls and even Tesla Photo voltaic in some markets.



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