Tuesday, SolarCity produced greater than 10GWh of solar electricity via its customer base. This doubles the 5GWh peak in 2015 and more than triples the 3GWh in 2014. SolarCity has over 280,000 customers and greater than 2.16GW installed as of the end of the first quarter – that volume is expected to grow 218MW in the second quarter and to be greater than 3GW before the end of 2016. The summer day peaks around June 20 – meaning we’ll probably see more records broken.
At an average price of $.13/kWh (p6), SolarCity is earning $1.3M a day right now – and will probably make a similar or larger amount of money for the next 22 days (11 days before and after the longest day of the summer). The first quarter saw $67M in earnings – about $750,000/day.
If the ratios of batteries to solar was as in previous projects (Connecticut/Hawaii) they’d need between 250MW/1GWh and 10GW/47GWh of Tesla Energy batteries. The Tesla Gigafactory could build that much energy storage in about a week to a full year (or if Elon expanded – 2 days to three months).
As the SolarCity Gigafactory scales to 1GW of solar modules at 22% efficiency there will be a potential to install 37% more solar power per rooftop. With the US total solar capacity installed being around 27GW at the end of 2015, that’d mean SolarCity owns about 7.5% of the nations stock. One Gigafactory’s annual production would take a little over 2 years to replace the current SolarCity stock.
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