From Torque News.

Despite the impressive numbers and growth in Tesla’s energy business, it is not currently on Wall Street’s radar. This is likely due to the fact that the energy storage market is still relatively new and not as well understood by investors as traditional automotive products. However, it is worth noting that the potential for the energy storage market is significant, and it is likely to continue to grow in the future.

Tesla’s energy business has been on a steady rise, with the company’s Q4 2022 financial results showing significant growth in its energy storage deployment. According to the company’s release, Tesla deployed a record 2.4 GWh of energy storage in Q4, which is up 152% compared to the same period in 2021 and 300 MW more than the previous quarter. This brings the company’s total energy storage deployment for the year to an impressive 6.5 GWn, up 64% compared to 2021.

I don’t think Tesla’s energy business has been factored into the share price at all. Yet, The energy business actually makes renewables practical and can be used in conjunction with convention power generation. Also, utilities are immune from the macroeconomic environment. Should be huge when the street finds out.

While Tesla’s solar division also had a good quarter with 100 MW deployed, it is the company’s energy storage products – Powerwalls and Megapacks – that have truly shined. The Powerwall is a compact and affordable home battery system that allows homeowners to store and use their own solar energy, while the Megapack is a large-scale battery system designed for utilities and other commercial customers.

So, despite the impressive numbers, Tesla’s energy business is still not in the radar of Wall Street. However, it is clear that the company’s focus on energy storage is paying off, and it is likely to continue to drive growth in the future. As more and more homes and businesses turn to renewable energy sources, the demand for energy storage solutions will only continue to increase.

#tesla #teslaenergy

This is Armen Hareyan from Torque News. Please follow us at https://twitter.com/torquenewsauto on Twitter and https://www.torquenews.com/ for daily automotive news.

Reference
Armen Hareyan Torque News Tesla https://www.torquenews.com/1/teslas-energy-business-not-wall-streets-radar-despite-10b-rev-and-2b-profit
Gary Black https://twitter.com/garyblack00/status/1619400909108412416