>
Suspect in Charlie Kirk Assassination Identified as 22-Year-Old Utah Resident Tyler Robinson
LIVE STREAM: FBI Director Kash Patel to Hold Press Conference on Arrest of Charlie Kirk...
Fans claim NFL is 'rigged' after bizarre Vikings play against Bears goes viral
Who are Charlie Kirk's parents? Humble roots of MAGA star revealed as devastated couple cling...
Tesla Megapack Keynote LIVE - TESLA is Making Transformers !!
Methylene chloride (CH2Cl?) and acetone (C?H?O) create a powerful paint remover...
Engineer Builds His Own X-Ray After Hospital Charges Him $69K
Researchers create 2D nanomaterials with up to nine metals for extreme conditions
The Evolution of Electric Motors: From Bulky to Lightweight, Efficient Powerhouses
3D-Printing 'Glue Gun' Can Repair Bone Fractures During Surgery Filling-in the Gaps Around..
Kevlar-like EV battery material dissolves after use to recycle itself
Laser connects plane and satellite in breakthrough air-to-space link
Lucid Motors' World-Leading Electric Powertrain Breakdown with Emad Dlala and Eric Bach
Murder, UFOs & Antigravity Tech -- What's Really Happening at Huntsville, Alabama's Space Po
As usual, press coverage of Tesla's recent earnings report has focused on sales of the company's vehicles (and, unfortunately, on Elon Musk's immoderate statements about lockdowns and Tesla's stock price). However, every quarter, those who take the time to read the whole report will find numerous nuggets of information that provide clues to future areas of growth.
![]() |
Source: Tesla
The news on the solar and stationary storage fronts appears to be mixed. Tesla celebrated the installation of its 100,000th Powerwall home battery pack. However, as pv magazine noted, solar installations were down 35% from Q4 2019, and down 26% compared to Q1 2019. Energy storage installations were down more than 50% from Q4 2019's record of 530 MWh, but up about 14% compared to the previous year.
Is Tesla's solar and storage strategy stalling? Actually, as Kavya Balaraman discusses in a recent article in Utility Dive, there are reasons to believe that, once the current health crisis has passed, the company's battery business could be poised for unprecedented growth.
Some of the weakness of the Q1 figures is surely due to the ongoing COVID-19 pandemic, which has forced Tesla's New York factory that produces Solar Roof products to pause production, and at the same time put most installations on hold. The crisis has "essentially shut us down, both from the ability to install and the ability to get permits," Elon Musk said on the earnings conference call.
Also, the fourth quarter is typically the strongest for solar and storage products, as buyers rush to take advantage of incentives. On the other hand, the fact that storage installations posted a strong gain year-to-year in spite of all the pandemic pandemonium bodes well for the future.
In fact, when it comes to the Megapack, a utility-scale grid energy storage battery with a capacity of up to 3 MWh, Tesla said in its 10-Q filing with the SEC that "demand is currently far outpacing our production capacity."