Tesla Energy, the carmaker’s energy division, was borne from Tesla’s acquisition of SolarCity. Elon Musk had a goal to blend clean energy consumption with electric cars to clean energy generation via solar power and energy storage.
Tesla’s electric automotives, and electric cars generally, grow cleaner as the electric grid is cleaned—cleaner solar and energy storage help to accomplish that goal.
Yet the company’s energy drive is just as economical as it is ecoconscious.
Musk predicts, in fact, that Tesla Energy can outrun the electric car business.
Last quarter, Tesla’s car business was generating more than $7.6 billion, in comparison to $550 million for its energy venture.
Yet in the wake of decline, the company is reviving its solar business, and its energy storage business is setting quarterly records.
Tesla’s energy division could be the company’s impending area of growth.
Tesla Energy, in fact, could serve to save SolarCity investors—counting among its prime products Tesla Solar Roof.
Tesla hired roofers and solar roof installers en masse in 2020. If all goes well, Tesla could be installing hundreds of solar roofs weekly during the second part of the year 2021.
Regarding energy storage products, Powerwall draws endless demand at the moment. The development of the product depends exclusively on battery supply and Tesla’s capacity to accelerate production.
Megapack also maintains a big backlog of orders from electricity utilities, and Tesla may be able to deploy an average of more than 1 GWh of energy storage each quarter in 2021.
Tesla’s new Autobidder product is bound to manage that new storage capacity and optimise its value.
With these products and projects, in addition to Tesla’s more conventional solar rooftop retrofit business, 2021 is bound to be a successful year for Tesla Energy.