- The maker of electric cars, which also runs an energy supply business in the US, plans to begin selling electricity to homes and running “virtual power plants”, according to a recent job listing.
- Similar tariffs for households with batteries or solar panels are already available from suppliers, including Octopus Energy and Ovo Energy.
According to a recent job listing, the manufacturer of electric vehicles, which also operates an energy supply company in the US, intends to start selling electricity to houses and using “virtual power plants”. A new leader “with a healthy scepticism of the status quo” was needed to oversee the company’s entry into the UK market for Tesla Electric, which provides electricity to homes that own Tesla products like vehicles or batteries.
According to reports, Tesla may be considering assisting customers who possess a Tesla Powerwall battery, solar panels, or one of its electric vehicles to store electricity when it is affordable and sell it back to the grid when market prices are higher.
This can help households avoid peaks in market prices when renewable electricity is in short supply and allow the grid to do without fossil fuels by making better use of renewable electricity. Tesla launched its household supply deals in Texas late last year. It offered drivers who bought its Model 3 car a year of free, overnight vehicle charging at home when they signed up with Tesla Electric as their retail electricity provider between May and June. After the first year, drivers default to Tesla’s standard overnight charging rate of $1 daily.
Three years ago, Tesla applied to become an electricity generator with the British energy authority, marking the company’s entry into the British market. In June 2020, Ofgem gave it a licence. Additionally, Tesla could combine clients from around the nation and essentially build a virtual power plant with the help of a generation licence. Octopus Energy and Ovo Energy offer comparable rates for homes with batteries or solar panels.