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Tesla's Energy Storage Declines Amid Market Surge

7/3/2025

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Summary

Story summary

Tesla's energy storage installations fell to 9.6 GWh in Q2 2024, down from 11 GWh in Q4 2023.
The global energy storage market, however, expanded by 57% year-over-year in Q1 2024.
Import tariffs and policy changes pose risks to future growth, particularly due to reliance on Chinese battery materials.
Tesla's energy storage revenue increased significantly from $2 billion in 2020 to $10.1 billion in 2023, but growth is slowing.

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Story summary

Tesla's energy storage installations fell to 9.6 GWh in Q2 2024, down from 11 GWh in Q4 2023.
The global energy storage market, however, expanded by 57% year-over-year in Q1 2024.
Import tariffs and policy changes pose risks to future growth, particularly due to reliance on Chinese battery materials.
Tesla's energy storage revenue increased significantly from $2 billion in 2020 to $10.1 billion in 2023, but growth is slowing.