Tesla already has reservations for $1bn worth of energy storage

Tesla has taken 100,000 reservations for its Powerpack and Powerwall battery products, worth approximately $1bn, according to founder Elon Musk.

Speaking on the company’s quarterly earnings call, Musk said Tesla had taken reservations (non-binding agreements) which led him to believe the company would sell $50m of storage in the fourth quarter of 2015, and up to $500m in both 2016 and 2017.

Musk said: "If you just take the reservations that have been made thus far, it's well over $1 billion worth of Powerpacks and Powerwalls. And that's with no marketing, no advertising, no sales force to speak of, really, we're not trying to sell it".

Tesla chief technology officer Jeffrey Straubel, who was also on the call, said that around 70% of the reservations were for the larger 1MW Powerpack system, which is focused at commercial users and large-scale energy generators.  Cont'd...

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