Today Tesla announced their first quarter 2015 results and during the conference call discussing the results, Elon Musk revealed that Tesla received more than 38,000 reservations for the Tesla Powerwall. Musk called the reception of the battery packs “crazy”.

They expect 1.5 to 2 battery packs to be sold per installation. This would mean 57,000 to 76,000 packs, or over 0.5 GWh, just for the battery packs currently under reservation. Musk said they are likely already sold out through half of next year.

According to Tesla’s CEO, the company is having difficulties handling the amount of inquiries they receive in relation to their new battery pack offering.

Musk also revealed that they received  more than 2,500 reservations for the Powerpack which is the 100kWh commercial and utility scale version of the Powerwall. Musk insisted that the demand is surprisingly huge:

The sheer volume of demand is staggering. We could have the Gigafactory do only stationary storage.

Tesla expects the demand from the electric utility companies will be even bigger than the residential demand. Powerpacks, which are intended for comercial use and electric utilities, are selling for $250/KWh, while the Powerwalls, which aim at the residential market, are selling for $350/KWh.

Musk gave some color on the financial aspect of the Powerwall. He expects to achieve a gross margin of 20% on the stationary storage business. He specified it was only a “guess”. This compares to the ~26% gross margin Tesla currently report on their car business.

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