Tesla energy storage products

How big is Tesla's Energy Storage business?

Tesla’s energy storage business is still peanuts compared to Tesla’s automotive business, but it’s growing fast. "It’s now at over $1 billion a quarter for the first time" Multiply by 6 when Lathrop is fully ramped, hopefully by the end of the year. Margins could be as high as 50%, with a waiting list, as of now, of two years.

Is Tesla a good battery storage company?

It's an incredibly high record. Industry watchers have observed that Tesla Energy’s battery storage deployments in Q1 and Q2 are already at 13.5 GWh, with two quarters remaining in the year. This is close to the company’s overall energy storage deployments in 2023.

How much energy does Tesla produce a year?

Tesla also says that its Lathrop, California “Megafactory,” which produces the Megapacks, can produce 10,000 units annually, equating to around 40 GWh of clean energy storage. Updated 1:36 p.m. MT: Corrected calculation in sixth paragraph after incorrectly writing that the Megapacks could power an average of 14,400 homes for an hour.

Is Tesla Energy a sleeping giant?

Tesla Energy is no longer a sleeping giant. During the second quarter of 2024, Tesla Energy was able to deploy 9.4 GWh of energy storage products. This represents the highest quarter deployment of energy storage products in Tesla’s history to date. Tesla Energy was already a standout in the company’s Q1 2024 Update Letter.

Who can match Tesla's experience in storage technology?

Sheldon Kimber, CEO of Intersect Power, added: No one in the market can match Tesla’s depth of experience in storage technology. This partnership is the foundation of one of the largest and fastest growing storage portfolios in the country here at Intersect Power.

Are EV cells used in energy storage products?

Cells which would have been used in EVs are used in energy storage products instead. Actually, no. During the second quarter of 2024, Tesla Energy set a new record by deploying 9.4 GWh of energy storage products.