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Tesla Energy
Energy
Tesla Megapacks nearly sold out as first Nevada-made LFP cells ship
Tesla reported in its Q3 2026 Update the highest-ever order rate and backlog in its energy storage business, even as energy generation and storage revenue fell 16% year over year, to $2.88 billion. On the earnings call, CEO Elon Musk said the company is almost sold out of Megapacks. Energy storage deployments reached 13.7 GWh, up about 10% from a year earlier and slightly above the 13.5 GWh deployed in the second quarter. Tesla attributed part of the revenue decline to tariff-related customer refunds.…
- Q3 2026: 13.7 GWh deployed, up about 10% from a year earlier.
- Energy generation and storage revenue fell 16% year over year to $2.88 billion.
🔎 Why it matters: The Q3 2026 Update reports Tesla's highest-ever storage order rate and backlog, and the Texas Megafactory is already producing Megapack 3 with planned capacity of 50 GWh per year.
📈 Upside: Orders and backlog hit record highs in the quarter, and Nevada is already shipping Megapacks built with Tesla's own LFP cells.
📉 Risk: Revenue fell 16% despite higher deployments, and the 7 GWh Nevada LFP operation is still in early ramp.
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