Tesla Energy Generation And Storage Business: Q4 2020 Results

Megapacks drive Tesla’s energy storage business up to a new record of over 3 GWh in 2020.

Tesla’s battery energy storage business is booming, while the solar branch is showing signs of improvement.

In Q4, Tesla Energy revenues amounted to $752 million (new record), while the cost of revenues stands at $787 million. It, unfortunately, means a negative $35 million result and a gross margin of negative 4.7%, but as long as the company is expanding the business, we assume it’s under control.

Tesla Energy accounted for 7.0% of the total revenues in the quarter.

Tesla energy storage deployed – Q4 2020

Total battery energy storage (Powerwall, Powerpack and Megapacks) deliveries significantly accelerated:

  • 1,584 MWh (up 199% year-over-year) and 3,022 MWh YTD (up 83% year-over-year)

Tesla solar deployed – Q4 2020

Total solar installations (conventional panels and Solar Roof) deliveries are growing:

  • 86 MW (up 59% year-over-year) and 205 MW YTD (up 18% year-over-year)

Solarglass Roof

Tesla hasn’t said much about the Solar Roof installations in its latest quarterly report but ensured that “great progress” has been made to increase deployment.

Solar Roof is produced at the Gigafactory 2 in New York.

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