Tesla Achieved Another Milestone Of Installed the 100,000th Powerwall

Tesla, which is the leader in installing large batteries in the world, announced an important achievement in the field of home battery storage - the installation of its 100,000th Powerwall.

This incredibly important achievement was mentioned in only one line, probably due to the fact that the company had a lot of important and valuable information that it wanted to share with its investors.

"In Q1, we installed our 100,000th Powerwall."

After was launched in 2016, the project became incredibly popular. Tesla received tens of thousands of bookings on device, but at that moment, in connection with the establishment and expansion of production of Model 3, it was not able to increase the pace of production.

Source: Tesla

2019 was the year of increasing the production of the company's Energy products, as evidenced by the fact that the company overcame the milestone of 100,000 Powerwalls. Customers who buy solar installations from the company are increasingly installing energy storage systems.

"We have also seen an increase in cross-selling within the energy business as more than 40% of our residential solar customers opt for at least one Powerwall."

Powerwall's deployment has also accelerated thanks to large projects such as Australia's Virtual Power Plant and an electric utility in Vermont. Demand for this product is growing very quickly, since in addition to the direct benefits of the battery, buyers can also get incentives for buy from the government.

Tesla reported that their Megapack battery is also gaining momentum. This is happening mainly due to the fact that the company was able to reduce costs and at the moment the level of demand for this product is higher than the production capabilities of the company.

"Megapack, a battery pack of up to 3 MWh that is preassembled at Gigafactory Nevada as a single unit, is gaining traction. We have seen an inflection point in interest for utility level storage, primarily driven by progress in reducing costs. At the moment , the demand level for this product remains above our capacity. Our order book continues to expand due to multiple projects in the pipeline that are far bigger than our Hornsdale battery in South Australia which is still the largest Li-ion battery in the world. "

Tesla has impressive goals for rolling out its solar business and 2020 will be pretty impressive.

Featured image: Natural Solar