Tesla installs 1.3 GWh of energy storage in Q3

Tesla Inc (NASDAQ:TSLA) earlier this week reported nearly 1.3 GWh of energy storage systems deployed in the third quarter of 2021, up by 71% year-on-year and slightly above the prior quarter’s total.

The company recently started construction of a new factory in California with a capacity to produce 40 GWh of the Megapack large energy storage product.

Solar deployments in Q3 were stable at 83 MW. Cash and loan purchases accounted for nearly all installations.

Tesla noted that Solar Roof deployments have more than doubled year-on-year, without revealing capacity figures.

“We are making further cost improvements, particularly on the installation side, in order to increase the profitability of our energy division,” the company said.

The table below contains details on Tesla’s financial performance in the period.

Tesla said it achieved its best-ever net income, operating profit and gross profit in the third quarter. The operating margin was 14.6%, surpassing the firm’s medium-term guidance.

Choose your newsletter by Renewables Now. Join for free!