Tesla vehicles are seen on a lot at a Tesla dealership on December 13, 2023 in Austin, Texas. Tesla is recalling nearly all vehicles sold in the US after a near two-year investigation by the National Highway Traffic Safety Administration found a defect in the Autopilot system. Brandon Bell/Getty Images
Tesla's energy business just signed a new partnership with Sunrun, a leading provider of solar and home energy infrastructure in Texas. According to Yahoo Finance, this is set to benefit homeowners who own Tesla Powerwall batteries by offering them an annual payment of $400.
Under this new program, Tesla Electric, a subsidiary of Tesla that serves as a retail electricity provider in Texas, will manage and adjust the home energy systems of Powerwall owners.
Sunrun has noted that while they partner with various energy storage providers, Tesla Electric is a preferred choice due to its competitive rate structure and the advanced functionality of its virtual power plant technology.
These homeowners can choose to allow Tesla to control their battery usage, either by storing energy for personal use or by selling excess energy back to the grid. In return, participants will receive $400 annually for each Powerwall they own.
This payment system is designed to incentivize homeowners to contribute to the stability of Texas's energy grid, which has been under strain due to weather-related challenges, per VCPost.
The virtual power plant (VPP) will work by connecting individual home energy systems, such as Tesla Powerwall batteries, to form a networked energy resource that functions like a traditional power plant. Homeowners with solar panels store excess energy in their Powerwalls, which can be used later for personal needs or, in this case, aggregated with others to support the local grid.
Through a software, these individual batteries are pooled together, creating a large, distributed energy source. When the grid experiences high demand or is at risk of failure, the VPP can dispatch stored energy back into the grid, helping to stabilize it and prevent outages.
The initiative has already attracted great interest, with over 150 Sunrun customers enrolling in the program so far.
Join the Conversation