Tesla Energy business significantly accelerated in the second quarter of this year, as both the solar and battery energy storage sales tripled.
In Q2, Tesla Energy revenues amounted to $801 million (6.7% of the total revenues), while the cost of revenues stands at $781 million.
A small profit, after two negative quarters, is a positive sign. The company explains that the demand for its products remains strong, but the production output is constrained.
Tesla energy storage deployed – Q2 2021
Total battery energy storage (Powerwall, Powerpack and Megapacks) deliveries increased to the second best result ever:
- 1,274 MWh (up 204% year-over-year)
"Energy storage deployments more than tripled YoY in Q2, driven mainly by recognition of several Megapack projects. Energy storage deployments can vary meaningfully quarter to quarter depending on the timing of specific project milestones. Powerwall remained exceptionally popular as deployments nearly doubled YoY. Energy storage production continues to be held back by supply chain challenges as our backlog remains long."
Tesla offers three types of ESS products:
- Powerwall for home installations (13.5 kWh usable / 7 kW peak / 5 kW continuous per unit)
- Powerpack for commercial installations (Up to 232 kWh / Up to 130 kW per unit)
- Megapack (3 MWh units the largest project by utilities)
Tesla solar deployed – Q2 2021
Total solar installations (conventional panels and Solar Roof) deliveries were stable in the past three quarters, while year-over-year they more than tripled:
- 85 MW (up 215% year-over-year)
"Solar deployments reached 85 MW in Q2, more than tripling YoY. Additionally, cash/loan solar deployments more than quadrupled YoY."
Tesla's solar solutions:
Tesla said that the Solar Roof installations grew substantially in Q2, but we don't know its share out of the total solar installations.
"Solar Roof deployments grew substantially both YoY as well as sequentially in Q2. Thus far, our solar + storage product remains very popular, and we continue to improve efficiency of our install crews."
Solar Roof is produced at the Gigafactory 2 in New York.