TSLA · 10-Q · 2026Q2 · Full report

Energy Generation and Storage

Tesla, Inc. · 2026-07-23 · Importance 60 · Surprise 58

Tesla deployed 22.3 GWh of energy storage products through Q2 2026 and reports energy generation and storage revenue increased $350 million (13%) for the quarter, primarily due to higher Megapack deployments offset by lower average selling price per Megapack unit and fewer Powerwall deployments. The company is ramping Megafactories in Shanghai and Lathrop, CA and constructing a new Megafactory near Houston, TX, and introduced Megapack 3 and Megablock as next-generation industrial storage products in 2025. Tesla emphasizes the business is volume‑dependent, subject to quarter-to-quarter project timing, and constrained by battery cell supply. It also positions energy storage as an opportunity to support AI-driven load growth and grid stabilization.