Decline in Tesla’s Solar Panel Installations, Yet Battery Sales are Soaring
Tesla’s once-leading solar business is in decline, according to the latest figures from its fourth-quarter 2023 earnings report.
Crucially, the automaker revealed that its solar deployments cratered 36% to a total of 223 megawatts (MW) last year, down from 348 MW in 2022.
In Q4 2023, Tesla’s solar deployments dropped 59% year-over-year to 41 MW — down from 100 MW in Q4 2022.
However, Tesla’s energy generation and storage business is comparatively booming (surprise, surprise).
The company said its 2023 energy storage deployments — which include Powerwall home batteries and utility-scale Megapacks, topped 14,724 megawatt hours (MWh), up 125% from the year earlier.