Where is Tesla's Energy Storage Project located?

The move marks Tesla Inc.’s first major foray into the epicenter of the U.S. energy economy. A Tesla subsidiary registered as Gambit Energy Storage LLC is quietly building a more than 100 megawatt energy storage project in Angleton, Texas, a town roughly 40 miles south of Houston.

How big is Tesla's Energy Storage business?

Tesla’s energy storage business is still peanuts compared to Tesla’s automotive business, but it’s growing fast. "It’s now at over $1 billion a quarter for the first time" Multiply by 6 when Lathrop is fully ramped, hopefully by the end of the year. Margins could be as high as 50%, with a waiting list, as of now, of two years.

Will Tesla's Energy Storage business hit new records quickly?

Tesla’s energy storage business is booming with a record year, but it’s just the beginning as we could see volume hit new records quickly. With the release of its Q4 2022 financial results, the automaker released its energy division’s deployment number.

Why are battery energy storage systems becoming more popular?

In Europe, the incentive stems from an energy crisis. In the United States, it comes courtesy of the Inflation Reduction Act, a 2022 law that allocates $370 billion to clean-energy investments. These developments are propelling the market for battery energy storage systems (BESS).

How did ESD support a business park development?

Recognizing the goals of job creation, economic growth and sustainability for the campus and the surrounding region, ESD supported the business park's development with an $8 million grant through the Upstate Revitalization Initiative.