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Tesla’s power businesses are beginning to take off

Tesla just released its latest earnings report, and the results indicate that Elon Musk’s bets on energy storage and solar are beginning to pay off.
The storage business was the star of the company’s power plays in the fourth quarter, with quarterly year-on-year growth approaching 200%. As the company said in its presentation to shareholders, “[energy] deployments grew substantially from 2019 to 2020. For the first time, our total battery deployments surpassed 3 GWh in a single year, which is an 83% increase compared to the prior year.
Tesla’s power businesses are beginning to take off
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