Tesla Energy has reported impressive battery deployment figures for the third quarter of 2024, showcasing significant growth in its energy storage division. The company deployed 6.9 GWh of energy storage products during this period, bringing its year-to-date total to 20.3 GWh. This achievement is particularly noteworthy as it exceeds Tesla’s full-year deployment figures for 2023, which stood at 14.7 GWh.
While the Q3 2024 deployment figure represents a decrease from the 9.4 GWh reported in Q2 2024, it still marks the highest third-quarter performance for Tesla Energy to date. The company’s rapid growth in this sector is evident when comparing current figures to previous years: 6.5 GWh deployed in 2022 and 3.99 GWh in 2021.
The acceleration in energy deployments can be attributed to the ramp-up of production at Tesla’s Lathrop Megafactory. This facility produces the Megapack, Tesla’s flagship energy product designed for grid-scale applications, offering 3.9 MWh of energy per unit. The Lathrop Megafactory has an annual production capacity of 40 GWh, equivalent to approximately 10,000 Megapacks.
Tesla is poised for further growth in this sector with the ongoing construction of its Shanghai Megafactory. Expected to match the 40 GWh annual capacity of the Lathrop facility, the Shanghai plant broke ground in late May 2024. Industry observers anticipate that initial Megapack production at this new facility could commence as early as the first quarter of 2025.
Given the efficiency demonstrated by Tesla’s Gigafactory Shanghai, there is speculation that the Shanghai Megafactory may exceed its projected 40 GWh annual production capacity. This expansion in manufacturing capabilities positions Tesla to meet the growing global demand for large-scale energy storage solutions.
Source: TESLARATI
