Tesla navigated supply chain challenges to deploy 348MW of solar in 2022, the company’s highest install figure since 2017, when it added 523MW.
However, with deployment impacted by import delays early last year, PV additions were only marginally up on the 345MW of solar the company added in 2021.
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On a quarterly basis, Tesla deployed 100MW of solar in Q4 2022, an 18% jump on the same period of 2021. No details were provided about the company’s solar roof.
“Our solar installation team continues to improve installation efficiency, enabling higher volumes and stronger economics,” the company said in a report accompanying its financial results.
During Q4 2022, Tesla’s energy generation and storage unit posted revenues of US$1.31 billion, a 90% increase on the same quarter of 2021.
“The energy business had its strongest year yet across all metrics, led by steady improvement in both retail and commercial storage,” said Zach Kirkhorn, Tesla CFO, during a conference call with investors.
Tesla’s energy storage deployments grew 64% year-on-year, reaching 6.5GWh in 2022, as reported by sister site Energy-Storage.news. The company said demand for its storage products is in excess of its ability to supply.
With US households looking for more energy independence and savings as power prices increase, the county deployed a record 1.57GW of residential solar during Q3 2022, according to trade body the Solar Energy Industries Association and research firm Wood Mackenzie.
That figure was achieved despite trade barriers and supply chain constraints leading total US solar deployment during the third quarter to drop 17% year-on-year.
Conference call transcript from the Motley Fool.
