Tesla’s Q3 2022 solar PV deployment increased 13% year-on-year to 94MW as its battery storage system additions reached a quarterly high.
Despite the year-on-year increase, Q3 solar installs were down 11% on Q2 2022, which was Tesla’s biggest quarter for solar in over four years, as reported by PV Tech at the time.
In its quarterly update, the company said its solar installation team continues to improve installation efficiency, enabling higher volumes and stronger economics.
Tesla’s residential Powerwall and large-scale Megapack battery energy storage system (BESS) deployments for the third quarter were 2,100MWh, a 62% year-on-year increase from Q3 2021’s 1,295MWh.
That also represented an 85% upward push from the previous quarter’s 1,133MWh and more than double the two preceding three-month reported periods before that.
Energy generation and storage – including solar PV – earned the company US$1.117 billion revenues, versus cost of revenues of US$1.013 billion.
As CFO Zachary Kirkhorn pointed out in an earnings call to explain, the results pushed it to its strongest gross profit for the segment to date of US$104 million. That bettered the last quarter, which was also a record at the time with US$97 million gross profit for the segment.
For more on this story, visit sister site Energy-Storage.news.