Tesla is steadily gaining market share in the US consumer battery storage market. According to data from Wood Mackenzie, Tesla’s Powerwall is silently taking over the sector.
Wood Mackenzie estimates that 11 out of 100 homes installing solar panels in the US added a battery energy storage system. The company’s data shows that nearly half of all the combined solar and battery installations for residential customers used Tesla’s Powerwall.
Tesla’s solar-battery market share comes up to about 50 percent, even though Wood Mackenzie’s data puts the company’s share of total sales in 2023 at 30.2%. This is because Sunrun, in second place with 20.5%, and SunPower in third place with 4.6%, install Tesla’s Powerwall for their clients.
In Q3 2023, Tesla deployed 90% more battery energy storage products than in Q3 2022, clocking 4.0 GWh. The Energy division combined with the service division brought in $0.5 billion in profit in the last quarter. The American company celebrated crossing 1 GWh in Powerwall deployment in Europe last month.
It may appear that Tesla’s strategy of bundling its solar offerings with the Powerwall is paying off. The company also recently released an updated version of the Powerwall with more power storage capacity and an integrated solar inverter, which could have also contributed to the surge in sales.
It is noteworthy that while the EV division of Tesla usually takes the spotlight, CEO Elon Musk believes the Energy division could become a mainstay.
While Canadian’s still can’t buy Powerwall directly from Tesla, the company recently updated their website to show official pricing.