Skip to main content

Tesla Energy Massively Surged 132% In Q2 2024 - Showing Tesla As Much More Than A Car Company

Tesla's energy division - a very underrated and fast-growing business - surged in Q2 2024, with a staggering 132% growth from last quarter. This is double Tesla's highest energy deployment ever.
Tesla Energy Massively Surged 132% In Q2 2024 - Showing Tesla As Much More Than A Car Company

Stationary Battery Storage Will Be Super Important

Tesla's energy division experienced massive growth in Q2 2024, up 132% from just the last quarter. By the way, last quarter was a record energy storage deployment quarter for Tesla at 4,053 MWh.

Tesla deployed 9,400 MWh of energy storage this quarter, and this is still a microscopic amount compared to what Tesla will and needs to do to help the world transition to sustainable energy.

Tesla ultimately will need to deploy multiple TWh of energy storage throughout the world. That's Terawatt compared to Megawatt. If you look at the percentage of Tesla needing to deploy 3 TWh of energy storage, they are about 3/10 of 1 percent of the way there.

That's a 300x increase needed for Tesla to reach its energy storage goals. Things are still very young and in the early stages for Tesla energy.

Battery storage is going to be important for the future. Even though fossil fuels can and are still being used, eventually, they will run out. They are also more polluting than solar and battery storage.

The world is going to need to transition at some point - why not do it now instead of when the fossil fuel source has dwindled to such a low amount that it causes problems for humanity to function.

You May Also Like: After 5,000 Miles, I'm Sad To Report That I have Not Experienced Any Issues At All With My Cybertruck

Tesla - Much More Than A Car Company

Many people still view Tesla through the lens of building electric vehicles for others to drive. Yes, Tesla has made over 6 million EVs and this is an important part of Tesla's business. But, it's becoming a less and less important part of Tesla's business as other businesses grow.

Tesla energy is one such business - and I would argue that it is even more important than the EV business. Tesla has a second Megapack factory being built in China, but it's going to need to build many more than just two. It has one that is likely reaching full production capacity in Lathrop, CA. I expect Tesla to build energy storage factories all around the world.

Tesla's business is surging today, and the company is poised to have a strong second half of the year, assuming the economy and things play out reasonably well.

Look for Tesla's FSD (full self-driving) and Tesla Bot to also contribute to Tesla's business meaningfully in the coming years.

Eventually, selling EVs will be a small percentage of Tesla's business - possibly even less than 1% of it.

For Further Reading: "I Think Airless Tire Is Going To Win Out:" Airless Tires Make A Ton Of Sense For Tesla's Driverless Robotaxi

What do you think about Tesla's energy storage growth? Is this good for Tesla and humanity as a whole?

Share this article with friends and family and on social media - or leave a comment below. You can view my most recent articles here for further reading. I am also on X/Twitter where I post more than just articles daily, as well as LinkedIn! Thank you so much for your support!

Hi! I'm Jeremy Noel Johnson, and I am a Tesla investor and supporter and own a 2022 Model 3 RWD EV and I don't have range anxiety :). I enjoy bringing you breaking Tesla news as well as anything about Tesla or other EV companies I can find, like Aptera. Other interests of mine are AI, Tesla Energy and the Tesla Bot! You can follow me on X.COM or LinkedIn to stay in touch and follow my Tesla and EV news coverage.

Image Credit: Tesla, Screenshot

Article Reference: Tesla

Auto Sector Stocks
Automotive News
Electric Vehicle News and Reviews
Tesla