Tesla Australia and New Zealand recently posted the story of Hadley Cycles’ cost savings thanks to multiple Powerwalls.
Hadley Cycles, based in Newcastle, Australia, installed three Tesla Powerewalls in its bike shop. Before installing Tesla Powerwalls, Hadley Cycles’ electricity costs went as high as AUD$ 33,000 a year across its stores.
Hadley Cycles saw immediate cost savings. As such, it has switched to operating stores with stored solar energy. Hadley Cycles was able to offset its Tesla Powerwall investment costs within three years thanks to its savings.
Hadley Cycles run all their bike shops on stored energy, from solar and multiple Powerwalls → https://t.co/ixpLb1Oj7l pic.twitter.com/ed6hvFfZN1
— Tesla Australia & New Zealand (@TeslaAUNZ) February 6, 2024
During TSLA’s Q4 and Full Year (FY) 2023 earnings call, Tesla’s Chief Financial Officer Vaibhav Taneja thanked the whole Tesla energy team for another record year in the energy storage energy business. He shared that Tesla Energy has more than doubled its deployments, increasing revenues by over 50%.
The Tesla Powerwall and Megapack contribute heavily to Tesla Energy’s success. In December 2023, the Tesla Powerwall was revealed to be quietly dominating the US residential battery storage market—which is still relatively small but still growing.
Tesla listed Powerwall 3 last year, which has a fully integrated solar and battery system. It would be interesting to follow the Tesla Powerwall’s uptake in the market, especially as the company launches it in other countries. Before 2023 ended, Tesla launched its Powerwall product in Taiwan and Portugal.
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