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Tesla Inc. doesn’t just produce electric vehicles. Sure, with notable vehicle releases such as the Model Y, the company’s vehicles certainly attract a lot of consumer attention. However, Tesla’s green energy storage solutions are seeing a soar in demand.
According to Tesla CEO Elon Musk, the demand for stationary energy storage solutions, such as those found in the Tesla Megapack, is much higher than the company’s production capacity. The complications in Tesla’s production facilities both in California and Shanghai have put a damper on the company’s output.
The first-quarter earnings call, while mostly focused on Tesla’s electric vehicle operations, also mentioned the company’s future green energy aspirations. According to sources at Utility Dive, “In total, first-quarter revenue from energy generation and storage decreased by $31 million — 10% — year-over-year.”
However, the company still retains a high demand for its stationary energy storage solutions. A major Megapack acquisition by Saint John Energy in Canada produced tremendous results. More recent license applications for energy operations in the United Kingdom also bodes well for the company.
Tesla has been able to continually lower the prices for its green energy solutions. With Battery Day approaching on the horizon, it looks as though Tesla will continue to drum up interest in its energy products. The challenge lies in their ability to keep up with demand.
