Forecast Of The Day: Tesla’s Energy Generation And Storage Revenues

+18.70%
Upside
176
Market
209
Trefis
TSLA: Tesla logo
TSLA
Tesla

What?

Over Q1 2021, Tesla’s (NASDAQ:TSLA) Energy Generation & Storage revenue rose by 69% year-over-year to $494 million.

Why?

Relevant Articles
  1. Down Almost 20% This Year, Is Tesla Stock Good Value?
  2. Down 9% Year-To Date, Will A Q4 Earnings Beat Drive Tesla Stock Higher?
  3. With Delivery Growth Cooling, Is Tesla Stock Still A Buy At $250?
  4. Following A Lackluster Cybertruck Debut, Is Tesla Stock Overvalued At $240?
  5. Will Weak Earnings Follow Tesla’s Mixed Delivery Report?
  6. With Deliveries Missing Estimates, What’s Next For Tesla Stock?

The growth was driven primarily by Tesla’s solar operations, which saw deployments grow over 2.5x year-over-year to 92 megawatts (MW), and the company’s Powerwall batteries which saw deployed capacity rise 71% to 445 Megawatt-hours.

So What?

Although Tesla’s energy business has been somewhat slow to gain traction, relative to its EV business, we think it should look up, driven by innovative products such as the Powerwall and the Solar Roof. Tesla says that the Powerwall is seeing demand that far exceeds supply, forcing the company to limit sales exclusively to its solar customers. Solar Roof deployments also grew 9x in Q1, compared to the same period last year.

See Our Complete Analysis For Tesla

 

Looking for a balanced portfolio to invest in? Here’s a high-quality portfolio to beat the market, with over 150% return since 2016, versus 85% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.

See all Trefis Price Estimates and Download Trefis Data here

What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams