Tesla's energy storage installs jump in Q2

Source: hornsdalepowerreserve.com.au

Tesla Inc (NASDAQ:TSLA) saw its energy storage deployments in the second quarter treble year-on-year to 1,274 MWh, while solar installations remained close to the levels of the previous two quarterly periods.

In its financial report released on Monday, the company noted that energy storage deployments can vary significantly, depending on the timing of project milestones. The rise in the second quarter of 2021 was mainly due to the recognition of several Megapack projects. Tesla said deployments of the Powerwall also nearly doubled.

The table contains details on solar and storage installations.

	Q2 2021	Q2 2020	Q1 2021	Q4 2020
Solar deployed (in MW)	85	27	92	86
Storage deployed (in MWh)	1,274	419	445	1,584

Solar Roof deployments were up “substantially” in quarter-on-quarter and year-on-year terms, Tesla said, without providing specific numbers. Energy storage production in the quarter continued to face supply chain challenges.

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

Results in USD million	Q2 2021	Q2 2020	Q1 2021
Revenues	11,958	6,036	10,389
-- of which energy generation and storage	801	370	494
Adj. EBITDA	2,487	1,209	1,841
Net GAAP profit	1,142	104	438