- Tesla’s solar installations in Q2/2022 increased 25% on annual basis to 106 MW
- Storage installations dropped 11% instead, to 1,133 MWh, compared to 1,274 MWh in Q2/2021
- Management said import delays on certain solar components continue to hamper business and to deal with it, the company has expanded its supplier base
American automotive and clean energy business Tesla has reported its solar installations in Q2/2022 having grown 25% annually to 106 MW, calling it the company’s strongest quarterly result in over 4 years.
The annual numbers grew from 85 MW deployed in Q2/2021. With the addition of 48 MW in Q1/2022, Tesla’s H1/2022 solar installations are now confirmed as 154 MW, but lower than 177 MW it installed a year back (see Tesla Deployed 48 MW New Solar In Q1/2022).
Tesla management said it continues to experience import delays on certain solar components, because of which it has expanded the supplier base to ‘enable growth in this business’. It explained, “Our solar installation team continues to improve installation efficiency, enabling higher volumes and stronger economics.”
In terms of battery storage, deployments totaled 1,133 MWh reflecting a drop of 11% from 1,274 MWh in the previous year even though on quarterly basis the increase was from 846 MWh in Q1/2022. The annual drop was attributed mainly to semiconductor challenges, which it said is impacting the company’s energy business more than the automotive business.
“Demand for our storage products remains in excess of our ability to supply. We are in the process of ramping production at our dedicated Megapack factory to address the growing demand,” added Tesla.
Of the total $16.93 billion revenues the company has reported for Q2/2022, energy generation and storage contributed $866 million.
While the company executives gave no hint on its solar roof tiles business in their call with analysts, American news portal Electrek cited unidentified sources to claim Tesla has ‘paused scheduling of solar roof installations in virtually all markets in the US, which is the only country where Tesla is installing solar roofs’. The report writer assumes it could be due to low supply of solar tiles.