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Tesla has already received an estimated $800 million worth of battery orders

Published May 8th, 2015 10:15PM EDT
Tesla Powerwall Powerpack Battery Sales Estimate
Image: Wikipedia

When Elon Musk said demand for Tesla’s new home batteries was “crazy off the hook,” it seems he wasn’t exaggerating. Bloomberg has crunched some numbers and has estimated that Tesla has already taken $800 million worth of Tesla Powerwall and Tesla Powerpack batteries. Breaking things down a little further, Bloomberg says that Tesla has likely received just under $179 million worth of Powerwall reservations and $625 million worth of Powerpack reservations. Tesla has already said that it’s received 38,000 total reservations for Powerwall and 2,500 reservations for Powerpack, so figuring out how much revenue they generated is a matter of simple arithmetic.

RELATED: Elon Musk: Demand for Tesla’s new battery packs is ‘crazy off the hook’

Powerpack units are bigger revenue generators for Tesla since they’re being sold to businesses and utilities for power storage and cost those entities $250 per kilowatt hour to use. The Powerwall units, meanwhile, are being targeted more toward consumers and are being sold for between $3,000 and $3,500 for the 7kWh and 10kWh models, respectively.

These energy storage batteries are part of Tesla’s plan to expand its business into areas besides electric cars, as it has ambitions to change the way we consume and store energy in our houses. It’s too early to say its efforts are a success but the early signs do seem to be encouraging.

Prior to joining BGR as News Editor, Brad Reed spent five years covering the wireless industry for Network World. His first smartphone was a BlackBerry but he has since become a loyal Android user.