Summary:
Tesla reported a decline in solar installations during the second quarter of 2023. The company deployed 66 megawatts (MW) of solar, which is a decrease of 1 MW from the previous quarter and a decline of 40 MW compared to the same quarter in 2022.
Key Points:
Below are the key points from the article:
– Tesla’s solar installations have continued to decline in the second quarter of 2023.
– The company deployed 66 MW of solar during this period, which is a decrease of 1 MW from the first quarter of 2023.
– Compared to the second quarter of 2022, Tesla’s solar installations have declined by 40 MW.
– The decline in solar installations is a concern for Tesla as it aims to expand its renewable energy business.
– Tesla has been focusing more on its electric vehicle production and energy storage business, which may have impacted its solar installations.
Hot Take:
The decline in Tesla’s solar installations is a setback for the company’s renewable energy ambitions. As Tesla continues to prioritize its electric vehicle production and energy storage business, it may need to reassess its strategy for solar installations to regain momentum in this sector.
Conclusion:
Tesla’s report of declining solar installations in the second quarter of 2023 highlights the challenges the company is facing in its renewable energy business. As Tesla continues to expand its electric vehicle and energy storage offerings, it will be crucial for the company to find ways to revive its solar installations to maintain its position as a leader in the clean energy industry.
Original article: https://techcrunch.com/2023/07/19/tesla-blames-solar-slump-on-interest-rates-energy-storage-booms/
