Tesla continues to build its energy storage deployments, though the company is intentionally shrinking its solar business it acquired from SolarCity.
Tesla reported 110 MWh of energy storage system deployments in its third quarter, up 12 percent from the previous quarter and 138 percent year-over-year. Currently, its single biggest energy storage project is a 100 MW system being constructed in South Australia.
Solar deployments reached 109 MW, down from the 189 MW SolarCity reported in its third quarter last year before it was acquired by Tesla.
In a report to investors, Tesla said the company is deliberately deemphasizing commercial and industrial solar energy projects with low profit and limited cash generation. Going forward, Tesla expects roof installations will ramp slowly in the fourth quarter as production moves from SolarCity’s facility Fremont, California to Tesla’s own Gigafacctory 2 in Buffalo, New York.
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