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Tesla’s solar installs drop, but battery business is booming

Tesla's solar deployments cratered 36% to a total of 223 megawatts (MW) last year, down from 348 MW in 2022.

Tesla’s once-leading solar business is in decline, according to the latest figures from its fourth-quarter 2023 earnings report. The company said its 2023 energy storage deployments — which include Powerwall home batteries and utility-scale Megapacks, topped 14,724 megawatt hours (MWh), up 125% from the year earlier. Tesla commented that it expects some volatility in energy deployments quarter-by-quarter, and the firm’s Q4 results reflect this.

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