Green Mountain Power Offers Customer Battery Systems
In December 2015, Green Mountain Power (GMP) became the first utility to lease and sell Tesla Powerwall batteries directly to customers. The battery systems can be paired with small-scale solar to store locally generated energy, or it can be used without solar as a battery to store power from the grid.
- In this pilot program, GMP offers customers three pricing options:
- Lease a battery system for about $37.50 per month and permit GMP shared access to the system
- Purchase a battery system for $6,501 and receive a monthly bill credit of $31.76 to permit GMP shared access to the system
- Purchase a battery system for $6,501. No shared access with GMP and no monthly bill credit
- GMP shared access allows the utility to control the charging and discharging cycles of the batteries during normal operating conditions (i.e., non-outage)
- In this setting, GMP expects to discharge batteries during times of (1) high market prices to reduce energy costs and (2) peak load to reduce capacity and transmission costs
- Customers may rely on the battery during a storm or an emergency to power essential parts of the home like lights, a refrigerator, and heat pumps
The GMP battery strengthens the customer relationship as it is the utility—and not a third-party provider—offering an innovative and high-profile new technology to customers. In addition, the model allows the electric utility and customer to share the costs and benefits of the battery system thereby making the battery system a valuable asset and a more cost-effective investment for both parties.
Green Mountain Power: Green Mountain Power to Offer Tesla Home Battery
Welcome to ScottMadden!
Sussex Economic Advisors is now part of ScottMadden. We invite you to learn more about our expanded firm. Please use the Contact Us form to request additional information.