- Tesla’s solar deployments in 2021 added up to 345 MW, growing 68% on annual basis
- Cash/loan purchases accounted for all the deployments last year, as per the management
- Energy storage business is doing well too as the company sees growth being limited by supply in the face of growing demand
Electric car maker and clean energy company Tesla, Inc grew its annual solar installations by 68% in 2021 with the addition of 345 MW, the company stated in its annual report disclosure.
This would be the company’s highest annual number for any year since 2018. In 2017, it had installed 523 MW. Management said cash/loan purchases accounted for all solar deployments in 2021.
It added that solar roof deployments nearly tripled last year on annual basis while growing sequentially in Q4/2021 when quarterly additions were 85 MW, at par with 86 MW in Q4/2020. In Q3/2021, Tesla had reported 83 MW solar deployments (see Tesla Deployed 83 MW Solar In Q3/2021).
“We are making further cost improvements, particularly on installation, to increase energy profitability,” stated the management.
As for energy storage deployments, Tesla shared a 32% annual increase in 2021 with 3,992 MWh (2020: 3,022 MWh) driven by Megapack deployments. It explained, “As demand remains substantially above capacity, growth has been limited by supply. We are in the process of building a dedicated Megapack factory to address the growing demand.”