Tesla Powerwalls contribute 517 MW to California grid during heat wave

Tesla and Sunrun announced that their residential battery fleets provided 580 megawatts of peak power to the California grid during a September heat wave. Of this total, 517 MW was contributed by approximately 110,000 Tesla Powerwalls acting as a coordinated dispatchable power plant during a three-hour window on September 9.

While the event demonstrates the ability of Tesla’s energy hardware to function as a grid asset, the companies have not disclosed the specific revenue or profit generated from the dispatch. This development provides a new catalyst for investors looking beyond vehicle deliveries and robotaxi developments.

On Wall Street, analysts are weighing various factors for Tesla’s stock performance. Several major banks, including Morgan Stanley and Jefferies, have set price targets near $400. Investors are closely monitoring upcoming earnings reports and the rollout of the Cybercab to determine if the stock will reach these levels.