Tesla has shared new data about the growth and performance of its Supercharger network for the third quarter of 2024. Despite challenges earlier in the year, including the decision to fire much of its charging team, Tesla’s Supercharger network continues to expand and deliver exceptional results, generating revenue upwards of $2.5 billion per year.
According to a post from the official Tesla Charging account on X, Tesla opened an additional 2,800 Supercharger stalls between July and September, representing a 23% year-over-year increase.
Beyond expanding the physical network, Tesla also reported an impressive milestone. The Supercharger network delivered 1.4 terawatt-hours (TWh) of electricity during the quarter. This was a 27% increase in energy delivered year-over-year, highlighting the growing demand for Tesla’s charging infrastructure, driven not only by the increasing number of Tesla vehicles on the road but also by the onboarding of non-Tesla EVs into the network.
To put the scale of 1.4 TWh into perspective, it’s the equivalent of 1.4 trillion watt-hours, or 1.4 billion kilowatt-hours (kWh). Tesla estimates that this electricity delivery helped drivers avoid using over 150 million gallons of gasoline and offset more than 3 billion pounds of CO2 emissions during the quarter alone, contributing significantly to the company’s environmental mission.
Beyond the environment impacts however, this statistic also gives us a glimpse into how much revenue the Supercharger network generates for Tesla. Since prices vary by location, it is impossible to attempt to calculate an exact figure, but even using a conservative estimate of $0.25/kWh (in Canada prices go as high as $0.71/kWh), that equates to $350 million in revenue.
Using a more realistic figure of $0.50/kWh, that number doubles to $700 million. These are quarterly figures, so on an annual basis the Supercharger network could be generating revenue upwards of $2.5 billion per year.
In Q3, we:
— Tesla Charging (@TeslaCharging) October 4, 2024
→ opened 2.8K Supercharger stalls, +23% year-over-year network growth
→ delivered 1.4 TWh, +27% year-over-year growth
→ saved 150+ million gallons of gasoline, offsetting 3+ billion lbs of CO2
