Tesla Energy

Tesla Energy Operations, Inc.
Company typeDivision
IndustryRenewable energy
Predecessors
FoundedApril 30, 2015; 9 years ago (2015-04-30)
Products
Production output
  • Increase 14.7 GWh battery energy storage systems (2023)
  • Decrease 223 MW solar (2023)
RevenueIncrease US$6.04 billion (2023)
ParentTesla, Inc.
Websitetesla.com/energy
Footnotes / references
Financials as of December 31, 2023.
References: [1][2]

Tesla Energy Operations, Inc. is the clean energy division of Tesla, Incorporated that develops, manufactures, sells and installs photovoltaic solar energy generation systems, battery energy storage products and other related products and services to residential, commercial and industrial customers.

The division was founded on April 30, 2015, when Tesla CEO Elon Musk announced that the company would apply the battery technology it developed for electric cars to a home energy storage system called the Powerwall. In November 2016, Tesla acquired SolarCity, in a US$2.6 billion deal, and added solar energy generation to Tesla Energy's business. This deal was controversial; at the time of the acquisition, SolarCity was facing liquidity issues.

The company's current power generation products include solar panels (manufactured by other companies for Tesla), the Tesla Solar Roof (a solar shingle system), and the Tesla Solar Inverter. The company also makes a large-scale energy storage system called the Megapack. Additionally, Tesla develops software to support its energy products.

In 2023, the company deployed solar energy systems capable of generating 223 megawatts (MW), a decrease of 36% over 2022, and deployed 14.7 gigawatt-hours (GWh) of battery energy storage products, an increase of 125% over 2022. The division generated $6.04 billion in revenue for the company in 2023, a 55% increase over 2022.

  1. ^ "Annual report Form 10-K 2023 Tesla Inc". January 29, 2024. Retrieved January 29, 2024.
  2. ^ "Q4 2023 Shareholder Deck" (PDF). Tesla, Inc. January 24, 2024. Retrieved January 24, 2024.