Tesla’s energy storage arm caps 2022 with ‘highest level’ of deployments ever
Tesla is on track to deploy more energy storage systems in 2022 than it has in any other year in its history, the company said in an update Tuesday.
The electric car and solar panel maker said it has installed 1.56 gigawatt-hours of energy storage capacity so far this year, more than double the 0.73 GWh it installed in all of 2020.
Tesla’s energy storage business, which includes the Powerwall home battery and larger Powerpack system for businesses and utilities, has been a key focus for the company in recent years. The business has grown rapidly, with deployments more than doubling in 2019 and 2020.
The company said it is on track to deploy more than 3 GWh of energy storage capacity in 2022, which would be a new record.
Tesla’s energy storage business has been boosted by a number of factors in recent years, including the growth of solar power, the increasing cost-competitiveness of batteries, and changing regulations in some markets that favor storage.
The company has also been actively marketing its energy storage products to customers who do not have solar panels, as a way to save money on their electric bills.
- The electric car and solar panel maker said it has installed 1.56 gigawatt-hours of energy storage capacity so far this year, more than double the 0.73 GWh it installed in all of 2020.
- Tesla’s energy storage business, which includes the Powerwall home battery and larger Powerpack system for businesses and utilities, has been a key focus for the company in recent years.
- The business has grown rapidly, with deployments more than doubling in 2019 and 2020.
- The company said it is on track to deploy more than 3 GWh of energy storage capacity in 2022, which would be a new record.
Tesla’s energy storage business has been boosted by a number of factors in recent years, including the growth of solar power, the increasing cost-competitiveness of batteries, and changing regulations in some markets that favor storage.
The company has also been actively marketing its energy storage products to customers who do not have solar panels, as a way to save money on their electric bills.
Tesla’s energy storage arm caps 2022 with ‘highest level’ of deployments ever
by Claire Hollar
Tesla’s energy storage business is poised to end 2022 on a high note, with the “highest level” of deployments ever, the company said Wednesday.
The total number of Tesla’s Powerpack and Powerwall systems deployed around the world will more than double from 2020 to 2022, growing from 2 GWh to 4.5 GWh, Tesla said in its fourth quarter 2020 update.
The company pointed to a few key projects in the works that will help it reach that goal, including a 220 MWh system in Ontario, Canada, a 180 MWh system in South Australia, and a 250 MWh system in the Dominican Republic.
In addition, Tesla said it plans to deploy its energy storage systems at an increasing number of commercial and industrial sites, as well as at residential customers’ homes.
The update comes as Tesla looks to ramp up its energy storage business in the face of growing demand for batteries that can store electricity generated by renewable energy sources like solar and wind.
The company has already seen success in this area, with its energy storage business growing by more than 150% in 2020, according to Wednesday’s update.
And Tesla is betting that the demand for energy storage will only continue to increase in the years to come.
“We expect deployments to continue to grow in 2022 and beyond as we bring online new capacity and gain market share,” the company said.