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Tesla’s solar and energy storage business rakes in $810M, finally exceeds cost of revenue

TechCrunch
 2021-07-27

Cover picture for the articleThe demand picture will get even sunnier for the division if the company can access enough chips for its energy storage products, according to Tesla CEO Elon Musk. Tesla on Monday reported $801 million in revenue from its energy generation and storage business — which includes three main products: solar, its Powerwall storage device for homes and businesses, and its utility storage unit Megapack — but that’s just a sliver of the nearly $12 billion in total revenue. Small as it is, the division is selling more energy storage and solar. Revenue from this division grew 62% from the previous quarter and more than 116% from the same quarter in 2020. Tesla doesn’t separate solar and energy storage revenue.

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