Tesla Launches Retail Electric Service In Texas; Plan Design, Pricing Revealed
December 19, 2022 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Tesla has launched a retail electricity offer in Texas designed specifically to be used with its Powerwall home storage
Currently, Tesla Electric’s retail electric plan is only available by invitation to select customers in Texas, specifically, for select Powerwall customers in Texas. Tesla stated that eligible customers will see a Tesla Electric banner on the Powerwall home screen in the Tesla app if they are invited to enroll in retail electricity.
The plan relies on a Powerwall control mode made exclusively for Tesla Electric customers (Tesla Electric Mode).
Tesla Electric Mode has two main features:
• "It prioritizes self-powering your home during on-peak times. While it will still self-power during off-peak periods if energy in the battery is available, it will prioritize dedicating energy to power your home during on-peak, when energy is more expensive. On average, Tesla Electric customers are expected to import less than 6% of their grid energy during Peak times."
• "Tesla tracks sellback prices in your local utility zone in real time. When energy prices exceed discharge trigger price, Powerwall will discharge at full power in order to earn you sellback credits (provided your Powerwall reserve energy is above backup level)."
Tesla states, "Tesla Electric Mode enables Powerwall to export power when electricity market prices spike."
However, under Tesla Electric Mode, the Powerwall will not draw energy below a customer-set Backup Reserve level, regardless of export prices
Under the retail plan, "energy import rates are based on time-of-use, meaning you pay more during on peak than off-peak times." Tesla updates these rates roughly once a month, the company states
"We update our electricity rates once each month to reflect the long-term trends in electricity generation and delivery prices. Our rates are built for stability – so you should not expect a significant rate difference from month-to-month," Tesla states
"Tesla Electric rates can vary slightly month-to-month, but we aim to keep them stable over the course of a year. Our goal is to offer you the stability of an annual contract plan on a flexible month-to-month basis. You can try Tesla Electric for a few months and cancel without a penalty if you find something better," Tesla states
Under the retail plan, "You earn sellback credits every time your site exports energy to the grid, whether it is by exporting excess solar energy or by discharging energy stored in Powerwall."
The sellback rate changes every 15 minutes, the company states
Sellback bill credits roll over from year to year as long as the customer stays enrolled in Tesla Electric. Customers can redeem credits for cash once a year.
Among other information, customers can use Tesla's app to monitor the rate paid for electricity when consumed, and at what rates the customer will be credited when exporting power to the grid.
"Once enrolled in Tesla Electric, members can view how energy flows to and from their home in real time. The Tesla app displays a power flow screen showing how your home consumes or produces energy, and how it is matched with other members, Tesla's sustainable energy sources and the grid. You can power your home with Tesla's sustainable sources or with energy exported by other members when your own solar panels or Powerwall are not providing enough power," Tesla states
Tesla provides its historic electric prices, which do not include TDU charges, on its site, for December 2022:
The Tesla retail electric plan is 100% renewable. In addition to RECs, customers are supplied by the exports from other Tesla members
"You can see how much energy other Tesla Electric members are importing from or exporting to the grid. If you consume power when other members are exporting, your home is primarily using excess solar power from members who are exporting solar to the grid," Tesla notes
There is no cancellation fee for Tesla's retail electric product
Tesla states, "Tesla Electric is currently available in select U.S. states [sic] -- with more on the way."