October 26, 2020 Read More →

Tesla seeing ‘unprecedented demand’ for battery storage systems

S&P Global Market Intelligence ($):

Tesla Inc. harnessed surging demand for large- and small-scale battery storage systems in the third quarter to boost deliveries by 59% from a year ago to 759 MWh, a new quarterly record, the company reported Oct. 21.

The California-based integrated electric vehicle, energy storage and solar company could have delivered higher volumes were it not constrained by a lack of lithium-ion battery cells.

Still, through three quarters of the year, Tesla has deployed nearly as much energy storage as it did in all of 2019, a year in which it delivered more storage than in all prior years combined.

Tesla’s pre-assembled Megapack product for utility-scale projects “is going to be a large growth segment for the business,” R.J. Johnson, head of Tesla’s energy business, said on the call.

PG&E Corp. subsidiary Pacific Gas and Electric Co. is using the Megapack at its 182.5-MW/730-MWh Tesla Moss Landing Battery Energy Storage Project (Elkhorn) under construction in Monterey County, Calif., part of a rapidly expanding fleet of lithium-ion storage installations in the state.

“We have more demand than supply through 2021, and we continue to ramp the product to match unprecedented demand across the globe through 2023 and beyond,” Johnson said. “Our order book is rapidly filling up through 2023 in a multiple-gigawatt-hour scale.”

[Garrett Hering]

More ($): ‘Unprecedented demand’: Tesla energy storage sales, orders surge to new heights

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