Increasing its efforts in the scope of sustainable energy, Tesla announced that it will launch a network-scale energy storage product called Megapack. Megapack, modeled on the company's previously established giant power system Powerpack in South Australia, stands out as the third and largest energy storage system produced by Tesla.
Megapack is positioned as an alternative to power plants that lead to higher natural gas prices. In addition to this new product, the company will continue to sell Powerwall for residential use and Powerpack for commercial use.
Meanwhile, Tesla's revenue from the energy storage area has not yet been able to overtake the revenue from vehicle sales. Therefore, we can say that the company, together with Megapack, wants to revise its growth in this area. Tesla's solar and energy storage products account for only $ 368 million of the company's total revenue of $ 6.4 billion in the second quarter.
Nevertheless, according to the second-quarter earnings report released on July 24, Tesla recorded a record by selling 415 megawatt hours of energy storage product in the last quarter. In this way, the company increased by 81 percent compared to the previous quarter, the company has also installed Powerball in more than 50 thousand regions.
From this point of view, thanks to Megapack's production capacity, it is also possible for Tesla to succeed in replacing natural gas products that are more widely used by users.
Designed as an easy-to-install grid-based energy system, Megapack comes fully assembled with each component. These include battery modules, bidirectional inverters, a thermal management system, an AC main breaker and controls. Megapack is capable of storing energy up to 3 megawatt hours, and stands out with its 1.5 MW inverter capacity.
It is worth noting that Megapack works with a software system developed by Tesla. Thanks to this software system, installations can be viewed, controlled and converted to income.
Note that all Megapacks are connected to Powerhub, which was developed to control and monitor large-scale network projects and micro-networks. Likewise, all Megapacks can be integrated into the Autobidder, Tesla's machine learning platform for automatic energy processing.
Tesla, which stands out as a sustainable alternative to natural gas use with its new product, can easily increase sales, especially in states such as California that aim to reduce gas emissions.