The Tesla Powerwall consists of a set of smart batteries powered by a solar system or a power grid and are contained in an electronically monitored package. The Powerwall then supply the home with its electricity needs. The Tesla Powerwall will ensure a constant supply of energy to the whole home. During bad weather, at night or when there is a power outage the system will keep up with the power needs of the home or workplace.
In other instances, it is not a must to have a solar system in place. You can use a Tesla Powerwall to get your energy from the main grid during low tariffs like during certain hours of the day or late night and store for use during peak hours. This can help you to keep your power bills down. However, it is better to have your own source of generating energy to have a bigger saving on the bills.
Utility Bills after Solar Installation
After installation of the Tesla Powerwall you will still be connected to your primary electricity provider. Your rate plans will change depending on your usage. Solar power can greatly reduce your electricity bills and depending on your needs it can be your primary source of energy to an extent of using the grid as your backup plan during cloudy days and bad weather seasons.
The amount you spend on your utility depends on a number of factors like your local rates, energy needs and what time of the day you use your electricity. Using the Teslas Powerwall Time-Based Control, you can greatly reduce your electricity bills by setting times that favor your energy needs.
The cost of electricity vary depending on your locality, this is important considering the cost of solar panels, energy rate plans, time of day vs solar and the plans net metering rate, all this impacts how fast you will realize the ROI.
Utility Rate Plans
One of the features of a Tesla Powerwall that helps with the reduction of power bills is the presence of the Tesla app. It will assist you with optimizing your power usage which will directly affect how much you pay for electricity. The major benefit for installing a Tesla Powerwall is to reduce your energy consumption from the main grid, this is to lower your electricity bills. Employing a rate plan with the assistance of the app will help you maximize on savings.
The mobile app infuses Time-Based Control features that you can apply to control how your Powerwall charges and discharges. It acts as a valve that maximizes energy generation and lowers the cost of energy consumption, sometimes referred to us load shifting.
Net Metering
Net Energy Metering (NEM) is a program applied by most electricity suppliers that enables you to sell your extra energy generated by your Tesla Powerwall and solar system back to the grid for credit which you can use to offset your future power bills. With this type of billing system, you are only required to pay according to your net energy usage. During sunny days, your solar panels can produce more energy than you require at home. With NEM, you will earn credit for extra energy and when your home energy needs are greater than what your solar system can produce, you will use the credits to get power from the main grid thus off-setting your electricity needs while saving on costs.
NEM works on the same principle like the cellphone rollover minutes, your provider lets you use these credits when your Tesla Powerwall is not able to sustain your energy requirements. The Tesla Powerwall system is grid connected and the owners can take advantage of the Net Energy Metering to lower their utility bills. Net Energy Metering laws vary from place to place.