According to the company, Tesla Energy revenues increased 38.6% year-over-year to $1.117 billion , while the cost of revenues stands at $1.013 billion.reports that its battery energy storage systems deployment increased 62% year-over-year to a new quarterly record of 2,100 MWh.
The company explains that this level of growth was accomplished despite semiconductor challenges continuing to have a greater impact on its Energy business than the Automotive business.One thing is constant - demand for battery storage products remains higher than supply. This is why Tesla is preparing a new, massive 40 GWh Megapack factory in Lathrop, California , where the production ramp-up already started. This one investment might increase Tesla's output by an order of magnitude .
Tesla managed to increase solar deployments by 13% year-over-year to 94 MW, which is slightly less than in Q2, but still one of the highest levels in recent years."While our commercial project deployment can be volatile and was lower YoY, we continued to see YoY growth of our residential projects in Q3. Out solar installation team continues to improve installation efficiency, enabling higher volumes and stronger economics.
Tesla remains silent in its quarterly report about the Solar Roof installation progress. The Solar Roof is produced at the Gigafactory 2 in New York.
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