Tesla installed 260MWh of energy storage in Q1 2020

April 30, 2020
LinkedIn
Twitter
Reddit
Facebook
Email
Tesla Powerpack commercial battery storage system at Emirates Stadium, home of Arsenal Football Club, London. Image: Pivot Power.

Tesla has kept financial losses at bay in the first quarter of the year, posting strong group-wide EBITDA and revenue numbers amid high hopes for its solar roof line in the longer term.

Releasing a financial update on Wednesday, the Silicon Valley firm claimed its US$16 million in positive GAAP net income this quarter marks the first time the indicator is on the black in its Q1 series, a milestone achieved even as the COVID-19 crisis forced it to shutter factories.

The company said it deployed 260MWh of energy storage between January and March, a year-on-year increase versus the first quarter of 2019 when it achieved 229MWh of deployments. However, the figure represents less than half the 530MWh Tesla had posted in Q4 2020, and brings battery deployment back to levels unseen since one year ago.

At a call with analysts on Wednesday, Tesla CFO Zachary Kirkhorn acknowledged the impacts seen in Q1 2020 in the energy business. Over the quarter, factory shutdowns mixed with “launch efficiencies” around its Solar Roof business line, “impacting” overall profitability.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

To read the full version of this story, including the latest figures for Tesla’s solar installations, visit PV Tech.

11 November 2025
San Diego, USA
The 2024 Summit included innovative new features including a ‘Crash Course in Battery Asset Management’, Ask-Me-Anything formats and debate-style sessions. You can expect to meet and network with all the key industry players again in 2025 from major US asset owners, operators, RTOs and ISOs, optimizers, software and analytics providers, technical consultancies, O&M technology providers and more.

Read Next

October 17, 2025
Powerlink Queensland is seeking federal approval for transmission infrastructure connecting AGL Energy’s 2,000MWh Tuckeroo battery energy storage system (BESS) to the Western Downs Substation in Australia.
October 17, 2025
The New South Wales Independent Planning Commission has approved Ark Energy’s 3,148MWh Richmond Valley solar-plus-storage project in Australia.
October 16, 2025
Fluence has announced a solar-plus-storage project in Arizona, while Greenflash Infrastructure adds to its Texas BESS portfolio.
October 16, 2025
Octopus Australia has acquired the Coleambally battery energy storage system (BESS), a 100MW/400MWh standalone project in development located in southern New South Wales.
October 15, 2025
Publicly-owned energy company CleanCo Queensland’s 250MW/500MWh Swanbank battery energy storage system (BESS) has officially registered with AEMO and commenced its testing and commissioning phase.

Most Popular

Email Newsletter