"Tesla believes that the Japanese home battery market has big growth potential," Shinji Asakura, country manager of energy products for Tesla in Japan, told reporters in Tokyo.
Asakura said the expiry of feed-in-tariffs, starting later this year, is expected to promote self-consumption of solar power by households and spur demand for home-use batteries.
About 530,000 households with solar panels will have supply contracts with utilities lapse during the last two months of this year, Bloomberg reported, citing data from Japan's Agency for Natural Resources and Energy. By the end of 2023, it estimates about 1.65 million residential units
that comprise about 6.7 gigawatts of solar will expire.
Tesla has installed Powerwall systems at about 50,000 sites in seven countries since its launch in 2015, a company official told Reuters.
Tesla shares were up 0.7% to $258.76 in pre-market trading Tuesday.