Tesla Energy Plan
The Tesla Energy Plan is an interesting option if you have both (a) solar PV panels, and (b) one or more Powerwalls.
The exact eligibility criteria at time of writing are:
- One or more Powerwall 2 home battery storage units
- An MCS-certified Solar PV installation (up to 9 kWp in size, per Powerwall installed)
- A standard residential electricity supply
- Smart meter
- Daily energy consumption from 7am to 7:30pm of less than 9,500 kWh per year (per Powerwall installed)
If you meet all of these criteria, then you will enjoy:
- A rate of 24.91p per kWh (exact rate depends on your location) for any electricity you import, 24 hours a day
- The same rate of 24.91 per kWh (exact rate depends on your location) for any electricity you export, 24 hours a day
- A standing charge of 45.07p per day
This type of deal – very unusual in the UK market – is known as a ‘symmetrical’ tariff, where the export and import rates are identical.
Exported electricity could be from either your solar panels or your Powerwall battery storage. In other words, you are being paid a very generous rate for sending electricity to the grid.
Normally, under the Smart Export Guarantee scheme, you would only be paid a maximum of about 7.5p per kWh for exported solar electricity.
The Tesla Energy Plan import rate is also the lowest single rate tariff currently on the market.
If you’re on the Tesla Energy Plan, Tesla estimates you can reduce your electricity bills by up to 64%, compared to the ‘Big 6’ energy suppliers.
The calculation is based on a household energy demand of 8,000 kWh per year. Your actual savings will depend on a variety of factors and you should double-check their assumptions to make sure there are no surprises.
UK Tesla Virtual Power Plant
These tariffs are unique in the market. But there’s more to it than just rates. With the Tesla Energy Plan, you are effectively becoming part of a ‘virtual power plant’. What does that mean?
Basically, all the homes signed up to these tariffs form part of a connected grid. You then share your renewable solar energy to other connected members when you have more solar electricity than you need.
If your solar generation is low in relation to your home’s needs, extra stored electricity will be delivered automatically by your Powerwall, and/or electricity will flow in from the grid.
The Tesla Virtual Power Plant concept ensures as much renewable energy is generated, stored and shared as possible, in order both to lower your bills and help the environment.