Tesla, best known for its electric cars, is taking its electric energy storage expertise to the next level with this energy storage solution for the home.
This energy storage technology is part of delivering on Green Mountain Power's mission to deliver cost effective, low carbon and reliable energy solutions for its customers. The technology will empower customers to become more energy independent while also allowing the company to reduce peak demand on the system, providing cost savings to all of its customers.
"We are excited to bring Tesla's Powerwall to our customers. The Powerwall offers greater energy independence for customers, and offers GMP an opportunity to reduce peak demand on our system, which saves our customers money," said GMP President and CEO Mary Powell. "This is a great example of how GMP, as Vermont's Energy Company of the Future, is empowering customers to have more control over their energy choices while saving money and increasing reliability."
The Tesla home battery can be paired with small-scale solar power such as rooftop solar panels to store locally generated energy, or it can be used without solar as a battery to store power from the grid. During a storm or emergency, the battery is able to power essential parts of the home like lights, a refrigerator, and furnace. GMP will partner with customers to utilize the batteries during peak energy times to directly lower costs for customers by reducing transmission and capacity costs.
GMP will begin receiving Powerwalls in October and rapidly deploy them to customers in Rutland, the Energy City of the Future, and then statewide. GMP will partner with customers by offering product incentives combined with on-bill financing to ensure customers can access these products and deliver the full value they bring to the grid.