Tesla has reported its solar PV deployments in Q1/2022 to have dropped by 48% on annual basis to 48 MW, compared to 92 MW in Q1/2021 due to import delays for certain solar components which the company said was beyond its control, without specifying more.
Even on a quarterly basis, deployments went down by over 43% compared to 85 MW in Q4/2021 (see Tesla Deployed 345 MW Solar In 2021).
Tesla added that solar roof deployments continued to grow on YoY basis as cash and loan sales accounted for nearly all the deployments. As for storage deployments, it has reported 846 MWh during the reporting period reflecting an increase of 90% over 445 MWh a year back led by demand for its Powerwall. Yet ongoing supply chain challenges is limiting growth.
Tesla shared that it is in the process of ramping production at a dedicated megapack fab to address growing demand for energy storage from the electric vehicle and solar power company.
Speaking with analysts, Tesla CFO Zachary Kirkhorn said the company's energy business continues to be impacted by macro conditions, more severely than the vehicle business. "Our storage products, our need of chip supply and new import processes have impacted supply of certain components for our solar systems, which is reflected in our solar volume for the quarter," he added.
CEO Elon Musk promised, "We expect to address the part shortages that limited our progress with batteries and solar. So, we expect batteries and solar to also grow well this year."
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