Just like its electric vehicles, Tesla's energy storage products have also had a down year.
Since hitting a peak in the fourth quarter of 2024, Tesla's Powerwall and Megapack have seen two straight quarters of decreased installations, TechCrunch reports.
In the second quarter of this year, Tesla installed 9.6 gigawatt-hours of energy storage, down 0.8 gigawatt-hours from the first quarter and 1.4 gigawatt-hours from 2024's fourth quarter.
Overall energy storage installations, meanwhile, have seen significant increases, with a Wood Mackenzie analysis showing that first-quarter installations grew by 57% over the same timeframe last year — although the same analysis said a dip is expected next year, thanks to tariffs and legislation that prioritizes dirty energy over clean energy sources.
These types of products help homeowners store the energy generated from renewable sources such as solar and wind, allowing them to rely less on dirty energy from the grid. In fact, getting solar panels is one of the most effective steps any homeowner can take to lower their monthly energy bills while reducing the amount of heat-trapping pollution they emit.
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As TechCrunch notes, energy storage has been among Tesla's brightest spots as a company, posting revenue growth each year, from $2 billion in 2020 to more than $10 billion in 2024. But this year's decline mirrors what the company has seen from its automobile division, as Tesla's EV sales have also dipped dramatically.
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The upfront cost 💰 
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