Tesla's storage deployments grow to recod 2.1 GWh in Q3

Selling solar panels and EVs at the same location. Author: Mark Dixon.

Tesla Inc (NASDAQ:TSLA) deployed 2.1 GWh of energy storage in the third quarter of 2022, up 62% from a year ago and its highest level ever, the electric vehicle (EV) maker’s third quarter figures showed last week.

The company said that this achievement came despite semiconductor challenges continuing to have a more pronounced impact on its energy business than on its automotive business. Demand continues to exceed the supply potential of Tesla, which is in a process of ramping up production at its 40-GWh Megapack factory in California.

The table below contains details on solar and energy storage installations.

Unaudited figures	Q3 2022	Q2 2022	Q3 2021
Solar deployed (MW)	94	106	83
Storage deployed (MWh)	2,100	1,133	1,295

Solar deployments rose year-over-year, albeit at a slower rate of 13%, reaching 94 MW in the third quarter, which, the company said, is one of its strongest in recent years. Deployments were driven by continued growth in residential projects, while volatile commercial projects were lower than a year ago.

The next table contains some details on Tesla’s financial performance in the third quarter of 2022.

Unaudited figures in USD million	Q3 2022	Q2 2022	Q3 2021
Total revenues	21,454	16,934	13,757
- of which energy generation and storage	1,117	866	806
- of which automotive	18,692	14,602	12,057
Net income to common stockholders	3,292	2,259	1,618