EV giant Tesla disclosed on January 25 that it reached record-breaking 6.5-gigawatt hours (GWh) of utility- and home-scale battery deployment in 2022.
That is indeed an enormous deployment of Powerwall home batteries and utility-scale Megapacks. According to the US Energy Department, a typical American household uses 10,632-kilowatt hours, or just over 0.01 GWh, annually.
Battery energy storage deployments – 2022
Tesla disclosed that its battery deployment topped 2.5 GWh in Q4 2022. That figure represents a 152% increase from Q3’s record of 2.1 GWh. Notably, that figure recorded the company’s new highest deployment level.
Interestingly, it still has the potential to grow further as Tesla claims that its storage products are still short of meeting the growing demand. Nonetheless, it assured that the company is currently increasing the production of its energy storage products at the Megapack plant in Lathrop, California.
Solar deployments – 2022
The Musk-led company also provided investors with an update on its solar business, reporting that 348 megawatts of deployments were achieved last year. In Q4 2022, it reached a YoY increase of 18% to 100 MW. It is worth noting that this result is among the strongest quarterly record Tesla has achieved since 2017.
Tesla is indeed remarkable for being able to produce high results with its solar deployments, given the global supply chain constraints in 2022. Even more, the company stated that its solar business unit strives to produce higher volumes by enhancing its installation efficiency.
Tesla’s solar and energy business progress
In retrospect, Tesla’s solar energy division reported its “strongest” quarter in four years in July, with the deployment of 106 megawatts of solar products in Q2 2022.
In Q3, Tesla issued a similar statement on its energy storage business. It said in October that deployments of home and utility-scale batteries had become “by far the highest level [of growth it has] ever achieved.” That time, its home and utility-scale battery deployments surged 62% year over year.
Additionally, Tesla tested the Texas retail electricity market with its invite-only Tesla Electric program.
Notably, all these announcements ended Tesla’s extremely unstable fiscal year in 2022. It is worth remembering that the automaker reportedly suspended solar roof installations last year. Additionally, recent quarters for Tesla fell short of several Wall Street analysts’ predictions.
Nonetheless, Tesla seems to be going back to its usual self. It ended 2022 with profitable results and started the year with new record highs. It would be interesting to see how America’s EV giant would perform this year with its various new businesses.
