Texas Retail Provider Reports Amount Of Power It Purchased From Distributed Solar Customers In August Under New Pilot, Total Amount Paid To Customers

September 14, 2023

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Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Octopus Energy reported results from what it termed a 30-day pilot solar buyback program for Texas customers during August, called "Sunny Money"

Octopus Energy said that it pays exporting customers "real-time wholesale energy rates." There is no cap on how much Octopus buys back or how much customers can export, Octopus said

Octopus credits customers via bill credit or check for the excess power that is exported back to the grid.

Octopus Energy said that during the 30-day pilot, participating solar customers exported more than 180,000 kWh, while earning nearly $36,000 in solar buyback credits.

"The top 10 'Sunny Money' customers exported 16,000 kWh in August, averaging $0.39/kWh, and all customers exported at an average of $0.219/kWh," Octopus Energy said

"Some customers averaged $1-2/kWh for the month (10-20x the rate to buy from the grid). The challenge demonstrated that the top earners were considerably more flexible with their energy usage than the average customer," Octopus Energy said

Octopus Energy cited one customer who earned approximately $908 at an average of 66 cents/kWh in August.

"Many Octopus Energy customers have received up to five times compensation vs. traditional net metering since they were responding to the grid in real-time and exporting to reduce demand," Octopus Energy said

Octopus noted that it alerts customers of optimal export periods

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