Tesla is now looking forward to gaining experience through its virtual power plants (VPPs). Now Tesla is using ‘Tesla Electric’, its electric utility service in Texas to help sell cars with a new incentive. The brand has launch “Tesla Electric” back in 2022.
Unlike traditional Virtual Power Plants (VPPs) where Tesla Powerwall owners respond to specific “events” to support local electric utilities, as seen in California, Australia, and other markets, Tesla Electric takes a more proactive approach. It automatically buys and sells electricity on behalf of Powerwall owners, creating a dynamic system that helps protect them from peak price surges while maximizing efficiency.
Currently Tesla Electric is only available to Powerwell owners in Texas and the UK, but the company has plans to expand its products through this new division.
Tesla has two different plans under the program:
| Feature | Tesla Electric Fixed Plan | Tesla Electric Dynamic Plan |
|---|---|---|
| Pricing Structure | Competitive fixed rate for electricity, with a discounted rate during low-cost hours. | Competitive variable rate, with higher rates during peak demand periods. |
| Contract Term | 12-month commitment. | Month-to-month flexibility. |
| Unlimited Vehicle Charging | Available for an additional $15/month per vehicle, allowing unlimited charging. | Available for an additional $25/month per vehicle, allowing unlimited charging. |
| Powerwall Credits | Earn $400 credit per year per Powerwall by participating in the Tesla Virtual Power Plant, with Tesla managing the Powerwall to share energy with the grid when needed. | Earn $120 credit per year per Powerwall by participating in the Tesla Virtual Power Plant, with the customer managing the Powerwall to optimize earnings. |
| Energy Sharing with Grid | Sell energy back to the grid at a fixed rate per kWh | Sell energy back to the grid at 90% of the real-time market price per kWh. |
The first one enable you to charge your electric car for just $15 a month but with its new incentive, Tesla is bringing that down to $5 a month for a year for people who take delivery by the end of the year:
Get $5/mo Unlimited Overnight Charging With Tesla
To get unlimited overnight charging for $5 per month per vehicle for a full year, you must complete the following steps by December 31, 2024:
- Order and take delivery of a new Tesla vehicle
- Sign up for the Tesla Electric Fixed Plan
To be eligible, you need to live in an area of Texas that allows you to choose your electricity provider, be a new Tesla Electric member and take delivery of a new Tesla vehicle. Promotion is subject to change at any time.
It is expected that this step will be part of Tesla’s effort to deliver a record number of more than 515,000 vehicles in Q4 in order for its annual deliveries not to be down for the full year. The brand also has recently offers a series of sale incentives that Tesla has put in place to make sure it has the demand to achieve these records.
In Europe it includes a year of free Supercharging and heavy discounts while in the US, EV owners will also get good inventory discounts, 3 months of free Supercharger and FSD, FSD transfer, and more.
Tesla is heavily subsidized loans with lower interest rates. However this time the brand is using such a targeted incentive at the state level and using its Tesla Electric Program.
