Tesla reported a third quarterly decline in solar installations at 76 MW in Q1, down from 87 MW in Q4 2017, 109 MW in Q3 and 176 MW in Q2. The last was up from 150 MW in Q1 2017. Tesla said it had previously warned that its November 2016 acquisition of SolarCity would initially have a negative impact on installations. Solar power is expected to grow rapidly over the next few years, but will still account for only about 1 percent of total electricity generation by 2030, according to GTM Research. Tesla also reported sales of $410m from its energy generation and storage business, but the 8.5% gross margin was well below the Q1 2017 figure of 29.1%.
Tesla reported a third quarterly decline in solar installations at 76 MW in Q1, down from 87 MW in Q4 2017, 109 MW in Q3 and 176 MW in Q2. The last was up from 150 MW in Q1 2017. Tesla said it had previously warned that its November 2016 acquisition of SolarCity would initially have a negative impact on installations. SolarCity installed 214 MW in Q1 2016. Tesla also reported sales of $410m from its energy generation and storage business, but the 8.5% gross margin was well below the Q1 2017 figure of 29.1%.