Electric vehicles and battery manufacturer and solar installer Tesla grew its annual solar PV deployments in Q3/2022 by 13% to 94 MW, while storage deployments also registered a growth of 62% over the same period to 2.1 GWh.
Sharing the company's Q3/2022 financials, Tesla said in terms of solar deployments it was one of its strongest quarters in recent years, especially in the residential segment. In Q3/2021, it deployed 83 MW and in Q2/2022 another 106 MW (see Tesla Deployed 106 MW Solar In Q2/2022).
"While our commercial project deployment can be volatile and was lower YoY, we continued to see YoY growth of our residential projects in Q3," it stated. "Our social installation team continues to improve installation efficiency, enabling higher volumes and stronger economics."
For energy storage Tesla achieved its highest level of growth 'by far'. Management stated that this was despite semiconductor challenges continuing to have a greater impact on its energy business 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 40 GWh Megapack factory in Lathrop, California to address the growing demand," shared Tesla.
During the reporting quarter, Tesla's total revenues added up to $21.45 billion to which energy generation and storage contributed $1.12 billion, increasing from $866 million in the previous quarter, having grown from $806 million last year.
In all, during 9M/2022 Tesla has already deployed 248 MW of solar capacity. It needs some 100 MW to exceed 345 MW it deployed in 2021 (see Tesla Deployed 345 MW Solar In 2021).
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