Under this filing, Vermonters would have the option to purchase the Tesla Powerwall battery outright or lease with no upfront cost. The cutting edge battery 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 customers.
“This is a game changer that will help fully leverage solar to the benefit of all with cost savings, while empowering Vermonters to generate, store and use energy closer to the home,” said GMP President and CEO Mary Powell. “As Vermont’s energy company of the future, GMP is partnering with customers on an energy transformation that moves away from the 100-year-old grid system, to a new one that is more reliable, sustainable and cost-effective.”
The Tesla home battery can be paired with small-scale solar 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 use the batteries during peak energy times to directly lower costs for customers by reducing transmission and capacity costs.
GMP outlined to the Vermont Public Service Board its plan to offer three options to customers who want the Powerwall. Customers who share access of the battery will pay about $37.50 a month with no upfront cost, which equals $1.25 a day.
Customers can also choose to purchase the Powerwall for about $6,500, share access with GMP, and get a monthly bill credit of $31.76, which represents the value of leveraging the battery to help lower peak energy costs. And Vermonters can buy the Powerwall outright from GMP with no shared access for about $6,500.
GMP expects to receive its first shipment in January, with a total of 500 arriving over the next few months. GMP will partner with 10 customers initially to pilot the technology, primarily in Rutland, and then make the Powerwall available statewide to all GMP customers.