Tesla’s Q3 PV installations drop significantly

Decline attributed to high interest rates and the end of net metering in California.
  • Tesla’s solar installations plummeted by nearly 50% YoY to 49 MW in Q3/2023.
  • In the first 3 quarters of 2023, solar deployments dropped over 26%.
  • In contrast, Tesla’s energy storage business grew by 90% YoY to 4.0 GWh in Q3/2023.
  • Generation and storage revenues increased 40%, adding $1.56 billion to total revenues.

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