50,000 Model 3s in 90 Days: Tesla is Tipping the World

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Tesla reported earnings yesterday. To the surprise of most experts (!), Elon crushed it. In three months, Tesla sold more than 80,000 electric vehicles, including 52,339 Model 3 sedans. And, they made money, registering a $312 million profit and generating more than $800 million in free cash flow. Well done.

We tweeted last month about Tesla’s extraordinary business model and outcomes:

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Further amplifying the above, from yesterday’s Wired story:

At the end of the quarter, Tesla actually welcomed existing customers as volunteers to help deliver cars, as that became the new bottleneck. “I’ve never heard of a case where customers volunteered their time to help a company succeed,” said Musk. “That’s amazing. It chokes me up actually.”

Great news for Tesla, but more important, for the future of electric vehicles (and, thereby, our planet) … an American auto manufacturer is making money selling all-electric cars. Amen.

We have had the fortune of helping more than 60 electric vehicle owners (including ~15 Tesla owners) go solar. The economics of solar are good; solar + electric vehicles are outstanding.

A few anecdotes:

  • Increasingly, we are installing 240A eV outlets in concert with solar systems, in advent of a future/soon-to-come electric vehicle (and its charger). Very simple, efficient and inexpensive process, particularly when bundled with the solar engineering and permit. (And, you get the 30% tax credit on your additional electrical work.)

  • Refresher on the math for increasing your solar system’s size to accommodate eV charging: Simply take the total number of miles/year you anticipate driving (e.g., 12,000), multiply by the percentage of time you will charge at home (e.g., 75%), and divide the number of at-home miles by 4 (e.g., 9,000/4) to calculate the additional electricity load in kWh (in this scenario, 2,250 kWh).

  • The amortized cost to generate solar electricity is ~$0.08 per kWh. Hence, your cost to drive electric is about two cents per mile. (Add in the fact that there’s no maintenance and the picture’s even rosier.)

  • All electric vehicle owners should switch to PG&E’s “EV” rate schedule … the benefits are amplified if you have solar. (We model multiple PG&E rate schedules for Repower homeowners … in most all cases, switching to “EV” is the best case.)

  • We’re working with a number of churches in the community, helping them go solar and install eV chargers … all churches see it as a community benefit, and thus public availability of chargers is going to increase significantly — via churches, local governments, businesses, apartments, hotels, et al — in the near future.

Want to learn more? Feel free to contact us and/or attend a Davis Electric Vehicle Association (DEVA) meeting at our office.