The Tesla Energy business consistently grows and the fourth quarter was not an exception, with especially strong results in the battery energy storage segment.

According to the company, Tesla Energy generation and storage revenues increased 90 percent year-over-year to $1.310 billion (5.4% of the total revenues), while the cost of revenues stands at $1.151 billion.

Tesla energy storage deployed – Q4 2022

Tesla reports that its battery energy storage systems (BEES) deployment increased 152 percent year-over-year to a new quarterly record of 2,462 megawatt-hours (MWh).

That's quite spectacular, but we guess that the number in BEES segment will escalate quickly in the near future, as there is a high demand from utilities. Tesla notes:

"Demand for our storage products remains in excess of our ability to supply."

Total battery energy storage (Powerwall, Powerpack and Megapack) deployment:

  • Q4: 2,462 MWh (up 152% year-over-year)
  • YTD: 6,541 MWh (up 64% year-over-year)

A big boost for Tesla energy storage sales is the launch of the all-new Megapack factory in Lathrop, California (announced in 2021), which is expected to produce 40 GWh of Powerpack battery systems annually.

That's an order of magnitude more than the total deployment in 2021 (3,392 MWh).

Tesla offers three main 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 Discreetly Increases Powerwall 2 Price by $400
Tesla Powerwall
Tesla Powerpack To Charge Up Europe's Largest Community, Battery Project In Nottingham
Tesla Powerpack
Tesla Megapack Puts Powerpack In Large Packages
Tesla Megapack

Tesla solar deployed – Q4 2022

In the case of the solar business (conventional panels and Solar Roof), the situation remains stable.

In Q4, Tesla managed to increase solar deployments by 18 percent year-over-year to 100 MW, which is one of the highest levels in recent years. Overall, the year 2022 ended marginally above the 2021 level (mostly due to the slow Q1).

In its Q4 financial report, Tesla wrote: "Our solar installation team continues to improve installation efficiency, enabling higher volumes and stronger economics."

Total solar (conventional panels and Solar Roof) deployment:

  • Q4: 100 MW (up 18% year-over-year)
  • YTD: 348 MW (up 1% year-over-year)

Tesla's solar solutions:

Tesla Solar Panels
Tesla Solar Panels
Tesla Solar Roof
Tesla Solar Roof

Solar Roof

Tesla remains silent in its quarterly report about the Solar Roof installation progress. The Solar Roof is produced at the Gigafactory 2 in New York.

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