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Tesla (TSLA) confirmed that it is increasing its planned capital spending to $10 billion this year as it tries to achieve its next growth phase.

Lately, Tesla has described itself as being “between two major growth waves”. The first wave was the ramp-up of Model 3 and Model Y production, which appears to be now plateauing.

The second wave is expected to be the ramp-up of its next-generation vehicles, which are coming in late 2025.

In the meantime, Tesla is stuck with its current lineup, which can still grow a bit, but at nowhere near the pace of Model 3/Y.

In order to prepare for this next phase of growth and other products in the work, Tesla has disclosed upcoming record spending, according to a new SEC filing.

In its 10-K SEC filing today, Tesla confirmed that it spent $8.9 billion in capital expenditure in 2023:

Capital expenditures amounted to $8.90 billion in 2023, compared to $7.16 billion in 2022, representing an increase of $1.74 billion. Sustained growth has allowed our business to generally fund itself, and we will continue investing in a number of capital-intensive projects and research and development in upcoming periods.

That was a new record of spending for Tesla in 2023, but now the company says that it will be even higher this year.

Tesla disclosed that it plans to spend more than $10 billion this year:

Owing and subject to the foregoing as well as the pipeline of announced projects under development, all other continuing infrastructure growth and varying levels of inflation, we currently expect our capital expenditures to exceed $10.00 billion in 2024 and be between $8.00 to $10.00 billion in each of the following two fiscal years.

The company doesn’t disclose exactly where this money is going to go, but the automaker is always heavily investing in manufacturing operations and it is still growing Gigafactory Texas and Berlin.

It’s possible that Tesla will start spending more on Gigafactory Mexico this year – although the company is not committing to a start of construction any time soon.

One of the categories that could be driving Tesla’s higher spending this year is EV infrastructure. Tesla is growing the Supercharger network at an incredibly fast pace, and it’s a capital-heavy category. You have to build the stations and install them at full cost while seeing the return over years, if not decades, as EV drivers start to use these stations.

In 2024, Tesla needs to grow the Supercharger network faster and bigger than ever, especially in North America where it will finally start to on-board non-Tesla drivers in a more meaningful way for the first time.

Tesla also continues to invest billions in computing power to support its AI initiatives. The company recently disclosed a new $500 million Dojo computer cluster coming to New York. CEO Elon Musk also confirmed that Tesla will spend even more money on NVIDIA and AMD processors this year.

Interestingly, the company guides that spending will go down in 2025-2026 compared to 2024.

Where else do you think Tesla will spend a lot of money in 2024? Let us know in the comment section below.

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It happened: the storm hit. The power’s out. You have a home battery. Now what?

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It happened: the storm hit. The power’s out. You have a home battery. Now what?

The storm hit. The power’s out. With all the damage around you, it looks like you might be without power for a few days (at least). But you planned for this. You have a home backup battery. What happens now?

If you’re considering a home backup battery, or you already have one and haven’t needed it yet, you might be wondering what you’re supposed to do when the inevitable happens. The good news is: you probably won’t have to do much at all.

Whether you’ve got an industry standard like the Tesla Powerwall, one of the new GM Energy Storage Bundles, or any of the other excellent home battery systems on the market, from your point of view they’ll function in pretty much the same way.

Step 1: do nothing


“Jus’ chill, baby,” by ChatGPT.

Modern home batteries are paired with an automatic transfer switch. That’s a switch, usually installed near your home’s electrical panel, that allows you to go from grid power, to battery, and back. And, because it’s automatic, you don’t have to do anything at all.

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The instant the grid goes down, the automatic transfer switch recognizes the loss of power and automagically disconnects your house from the grid, seamlessly connecting it to your backup battery instead. Your lights stay on, the refrigerator keeps humming, and whatever else you’ve chosen to back up just keeps on keeping on. In some cases, the transition to battery power happens so smoothly that you might not even realize the neighborhood’s lost power, not noticing the neighbors’ dark windows until you step outside.

When the power comes back, that side of the switch gets energized, and it does its thing again, only in reverse – switching you back from battery to grid power and intelligently re-charging the battery in anticipation for the next blackout.

How long will my battery last?


UK battery storage
13.5 kWh Powerwall battery; via Tesla.

Unfortunately, this is one of those questions that doesn’t have an easy answer. In the simplest terms, if you have a small battery and try to keep the AC running, you might run out of juice in a few hours. On the other hand, if you have great big battery and save its electrons for just the barest essentials (a few lights, a laptop, and a phone or radio, for example) you might never run out of power.

To put some numbers to that, a 31 cu. ft. Samsung RF32CG5400SRAA stainless steel refrigerator is rated at 785 kWh/year. That works out to about 2.15 kWh/day. Factor in 20-40% higher energy needs for warmer temperatures, a few daily door openings, defrost cycles, inverter losses, etc. and you’re looking at 18-22 kWh of usable battery capacity to keep that thing running for a full week on battery power. Now do that same math for every appliance you deem a “must have,” then do the “nice to haves,” and on down the line.

That doesn’t even address the other form of “last,” and whether you’re looking for a ten- or twenty- year battery solution.

What you need to do, in other words, is talk to the experts. Let them know what appliances you need to keep running, how long you want to prepare for, and let them do the math to help determine which battery solution is right for you.

I’ve included a video that covers the process of picking a solar battery from EnergySage (a trusted affiliate partner), below, and invite you to share some of your own backup battery-picking experiences in the comments.

How to pick a solar battery


Original content from Electrek.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Ford cracks Corvette ZR1 ‘Ring record – with an electric van*

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Ford cracks Corvette ZR1 'Ring record – with an electric van*

Just days after Chevrolet beat the mighty Ford Mustang GTD’s Nürburgring track record with their Corvette ZR1 and ZR1X, Ford went back to the ‘Ring to reclaim some glory. They didn’t bring a Mustang along, though – they showed up with an electric van, and record-setting hot shoe Romain Dumas behind the wheel.

* it’s not your typical van. It’s a SuperVan.

Ford took back a fair bit of Chevy’s headline-grabbing glory this week when LeMans-winning driver Romain Dumas lapped the 12.9 mile Green Hell in just 6 minutes and 48.393 seconds – a blazing performance that makes the 2000 hp Ford SuperVan 4.2 the ninth fastest car to ever blast around the storied German racetrack.

Dumas is no stranger to the Nürburgring’s Nordschleife. He was first overall at the 2007 24 hour race there. He also holds the outright Nürburgring track record for EVs, which he set back in 2019 behind the wheel of the Volkswagen ID.R, completing the circuit in 6 minutes and 05.336 driving the Volkswagen ID.R.

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The new ‘Ring-record comes just a few weeks after Ford beat out every other supercar at the Goodwood Festival of Speed in the UK with its all-electric SuperTruck, crushing the “competition” with their 1,400 hp prototype EV silhouette racer.

No word yet on what track record Ford plans to snatch with an EV next.

Electrek’s Take


Romain Dumas in-car video; via Ford.

If there were still Ford guys and Chevy guys, I like to think I’d be a Mopar guy – but even from the sidelines, I can tell that Chevy’s been having a rough couple of weeks, performance-wise. Not only did their top-shelf ZR1X get beaten by a Ford van (even if it is a SuperVan), but their clean sheet, future-thinking, pie-in-the-sky concept Corvette got beat to the hypercar headlines by a Chinese rival with 1,000 extra hp.

Take my advice, GM: it’s time to drag Warren Mosler back home from the Virgin Islands, figure out where Rod Trenne’s hiding, and get them to build you a proper, 900 kg electric ‘Vette. Y’all let me know if you need help setting that up.

SOURCE | IMAGES: Ford.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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PA Turnpike to add 80 new Applegreen DC fast chargers by 2027

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PA Turnpike to add 80 new Applegreen DC fast chargers by 2027

EV drivers who use the Pennsylvania Turnpike just got a jolt of good news: Two Applegreen DC fast charging stations have come online, adding to the growing network of over 60 EV chargers along the 360-mile toll road that links Pittsburgh, Harrisburg, and Philadelphia.

The new 400 kW Applegreen Electric charging stations are at the PA Turnpike’s North Somerset (MP 112.3 westbound) and South Somerset (MP 112.3 eastbound) Service Plazas. Each site includes two DC fast chargers for a total of four charging ports, with two NACS and two CCS plugs at each service plaza. The PA Turnpike says the sites are equipped to be expanded.

The Pennsylvania Turnpike plugged in its first EV charger in April 2014. A decade later, more than 60 charging stations are online at eight of its service plazas, giving EV drivers a reliable boost across the state. And thanks to a new partnership with Applegreen Electric, 80 new universal EV chargers are on the way. By 2027, all 17 service plazas will feature DC fast chargers.

“We are pleased to offer our EV customers convenient access to the latest, fastest technology – without leaving the PA Turnpike,” said Director of Facilities Operations Keith Jack.

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The EV chargers at North Somerset and South Somerset, along with an EV charger at the Hickory Run Service Plaza scheduled to open this fall, were funded with grants from the Pennsylvania Department of Environmental Protection’s Driving PA Forward program. The chargers at nine service plazas scheduled to open in 2027 are being funded through grants from the Biden administration’s federal National Electric Vehicle Infrastructure (NEVI) program. 

Applegreen Electric chief executive Eugene Moore noted that the PA Turnpike’s fast charger rollout “marks a key step in building a connected corridor with Pennsylvania as a vital part of the seamless network that now spans New Jersey, New York, Connecticut, and Delaware. With more to come soon in Ohio and Massachusetts, we’re accelerating the rollout of reliable, accessible EV infrastructure across the region.” 

Applegreen is deploying fast chargers on the New Jersey Turnpike, with which it now has an exclusive agreement – it’s taking over from Tesla.


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

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