Tesla Energy Storage Deployments Increase 90% in Q3 2023

In the third quarter of 2023, Tesla’s energy storage deployments increased to nearly 4 GWh, its highest-ever result. The growth was due to an increase in the production of Megapack units at the Megafactory in Lathrop, CA.

Tesla reported its Q3 2023 earnings results on Wednesday. The past quarter was particularly successful in terms of energy storage deployments. The company reported that its energy storage deployment reached 3,980 MWh, which is impressive. This represents an increase of 90% compared to the same period last year, when 2,100 MWh were deployed.

Of particular note is the fact that the deployment of 3,980 MWh of energy storage is the highest in the company’s history. The deployment of Tesla energy storage systems has increased significantly this year. In Q1, 3,889 MWh was deployed, while in Q2, 3,653 MWh was deployed.

This increase in deployment was primarily made possible by the continued ramp-up of Megapack production. Tesla has built a new factory to produce the large batteries in Lathrop, California. At full capacity, it will produce 40 GWh per year. The company said it is in the second phase of expansion of the facility to begin production at full capacity. Megapack is an extremely popular product, and every quarter we hear news about the construction and/or commissioning of new battery energy storage systems (BESS).

Soon, Tesla will increase its Megapack deployment even more significantly. In April, the company announced the construction of a Megafactory in China. According to the plan, construction of the 40 GWh plant was to begin in the third quarter of this year, with production in the second quarter of 2024. In early September, Tesla China President Allan Wang confirmed that construction would begin soon. He also confirmed that the factory will produce Megapack for both domestic sales and export.

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