In the second quarter of 2022, Tesla installed 106MW of solar PV. It was Tesla's highest quarterly total in more than four years as the energy sector business rebounded.
The performance also prompted Tesla's power generation and energy storage unit to report its most profitable quarter to date. Gross profit for this segment exceeded $97 million for the three months ended June 30, 2022.
Tesla installed 106MW of solar during the quarter, a 25% year-on-year increase in installed capacity and more than double the 48MW installed in the first quarter of this year.
Tesla has not installed so much solar PV in a single quarter since the third quarter of 2017 (109MW).
In its earnings announcement, Tesla said installations were growing despite ongoing import delays affecting some parts. Tesla has expanded its supplier base to deal with this.
Tesla also noted that the company's installation team continues to "increase installation efficiency, achieve higher installation volumes, and achieve better economics." However, amid all the speculation surrounding the future of Tesla's solar roof, Tesla has not updated its solar roof products as usual.
At the same time, energy storage development fell 11% year-on-year to 1.133GWh, and Tesla believes that the weakening of semiconductor challenges has a more profound impact on its energy storage sector than its automotive sector.
Tesla is currently ramping up production at its dedicated Megapack factory to meet demand due to continued supply shortfalls, Tesla said.
Revenue from power generation and storage was $866 million, or about 5.1% of Tesla's total revenue for the quarter, and the power generation and storage segment had gross profit of $97 million.
