January 2025 began with a surprising piece of news from Tesla: for the first time ever, the automaker saw a slight drop in its vehicular deliveries in 2024 relative to 2023. There are a number of possible explanations for this — including more automakers getting into the business of EVs — but that one figure doesn’t tell the full story of Tesla’s 2024. Electric vehicles are only part of the company’s business, after all — and another aspect of Tesla saw a significant increase in its business last year.
That would be the company’s energy storage business. According to Tesla itself, in the fourth quarter of 2024, Tesla “deployed 11.0 GWh of energy storage products,” setting a company record in the process. That isn’t the only way that this figure is significant. In the fourth quarter of 2023, Tesla deployed 3.2 GWh of energy storage; the company’s total deployment for all of 2023 was 14.7 GWh.
Writing at Electrek, Fred Lambert has some insights into why Tesla’s energy storage business has seen such significant growth. Lambert points to the efforts of the Tesla Megafactory in Lathrop, California — which began production in 2022 — as helping to drive this uptick in energy production capacity.
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It’s a big achievement, but maybe not for the obvious reasonBy November of 2024, the Lathrop Megafactory had produced its 10,000th Megapack. This isn’t the only facility that will be producing Megapacks going forward; as Teslarari pointed out late last year, the company is also at work on a similar structure in Shanghai. According to Car News China, trial production of Megapacks began there in the last week of December — which suggests Tesla’s energy storage numbers could be even higher in 2025.
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