Tesla will earn at least $ 200 billion a year from energy storageSeptember 27, 2020
Analysts at investment bank Piper Sandler believe that Tesla Energy, which is responsible for the production and deployment of stationary energy storage systems, will generate at least $ 200 billion in annual revenue by 2033 and will take a leading position in the global energy market. The bank’s leading analyst Alex Potter attributes the expected success of Tesla Energy to two factors: focus on the most important segment of the energy sector and “Elon Musk’s compensation.”
“We expect to see a surge in demand for energy products, especially in the 2020s and 2030s, as renewables will soon be generating up to 40% of all electricity,” Piper Sandler said.
Tesla Energy rarely appears in analysts’ forecasts, but Piper Sandler considers such a decision a mistake and calls the Energy division “a topic everyone is trying to avoid.” At the same time, experts note a large growth potential and a positive impact on the overall assessment of Tesla. The division generated $ 1.5 billion in core business in 2019 and Potter predicts it will generate an additional $ 12.4 billion by 2023 and then increase annual revenues to $ 200 billion by 2033.
The latest forecasts agree with the point of view of Elon Musk. Earlier, the head of Tesla said that recently Tesla Energy has become a profitable business and in the future may significantly outgrow Tesla’s automotive business in terms of revenue.
Earlier, the German media learned that Tesla Energy is targeting the energy market in Europe and primarily in Germany. The company conducted a survey of potential customers in Germany in order to find out which technologies they are most interested in and why they are dissatisfied with the work of the current energy suppliers. Tesla’s questionnaire included branded energy storage devices, solar panels, home charging stations for electric vehicles, and it was all packed into one package product. In addition, Tesla’s Autobidder energy platform was approved for operation in Europe two months ago. The latter is used to unite the company’s ecosystem into a single network for remote control and potential monetization.
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