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.
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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.