FYI: Tesla expands its Powerwall 3 availability to multiple regions, reaching yet another milestone in renewable energy innovation.
Tesla continues to fortify its position in the renewable energy market with the expansion of its Powerwall 3 home battery system to new territories. Puerto Rico is the latest to welcome Tesla’s cutting-edge technology, following the U.S. territory’s introduction to Tesla’s Virtual Power Plant (VPP) program last year. This comes after the successful launch of the next-generation Powerwall across the United States earlier this year, along with international introductions in countries such as Canada and Germany.
Tesla Powerwall 3: A Landmark in Home Energy Storage
The Powerwall 3, unveiled on Tesla’s website as officially launched in February, hit the U.S. market after preliminary installations began the previous year. This year, Tesla’s energy division celebrated substantial production and delivery milestones. Notably, the production team at Gigafactory Nevada achieved a remarkable feat by fabricating over 1,000 units in a single day. Earlier in August, they also surpassed a significant benchmark with over 500 units produced in a single shift.
Globally, Tesla has deployed over 750,000 Powerwall units, with more than 100,000 of these participating in VPP programs. These programs effectively transform myriad Powerwalls into a massive, distributed battery during peak energy demand times. As for Puerto Rico’s VPP, it potentially stands as Tesla’s largest, with approximate participation of 75,000 Powerwall owners since its inception last November. Despite the increasing rollout of Powerwall 3, the majority of these programs currently rely on Powerwall 2 units.
Record-Breaking Year for Tesla’s Energy Sector
As the year concludes, Tesla’s strategic steps in broadening the reach of its Powerwall 3 align with a forecasted strong growth trajectory for its energy sector. CEO Elon Musk had previously predicted that Tesla Energy would become the company’s highest-margin business, outpacing its automotive operations in growth rate. Reflecting this growth, Tesla Energy posted an impressive gross profit margin of 30.5 percent in the third quarter of 2024, alongside a record delivery of 6.9 GWh of energy products, surpassing its full-year deployment target.
In light of Tesla’s impressive steps in renewable energy, the Puerto Rican market presents a significant growth opportunity for its VPP initiatives. As Tesla Energy ventures deeper into battery storage solutions, the introduction of the Powerwall 3 across burgeoning markets underscores the company’s dedication to sustainable, scalable energy solutions.
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Authored by William Kouch, Editor of Automotive.fyi
