Powerwall : Benefits & Savings
What Is A Powerwall?
The Tesla Powerwall is a rechargeable home energy storage product manufactured by Tesla. This battery stores electricity from your home's solar panels to use when your panels aren't producing power. Basically, Powerwall gives you the ability to store energy for later use and helps consumers optimize their solar savings.
Each Powerwall system can be monitored and customized through an app equipped with energy monitoring, metering, and smart controls.
How It Works
Powerwall batteries are charged by solar during the day when solar panels are producing more electricity than the home is consuming. They then store that energy until the home needs it when solar panels are not producing. These batteries are a helpful tool when solar is no longer producing at night or when there is a power outage. When the sun comes out the next day, solar recharges Powerwall, so you have a cycle of clean, renewable energy.
Benefits Include
Using a Powerwall battery can reduce your monthly utility costs overall. Most homeowners lose the energy they aren't using during the day and end up paying utility fees when the sun is no longer able to charge their panels.
Includes energy metering to help you accurately monitor your solar production and home energy consumption for precise, real-time insight to your home energy.
Is particularly great for homeowners in PG&E districts because it allows homeowners to access electricity during power outages.
Powerwall users may also be eligible to claim credit for clean energy incentives and be ready to join future virtual power plants.
Savings
Federal Tax Credit Powerwall
Participating homeowners are eligible for the 26% Federal Tax Credit when Powerwall is installed on an existing or new solar system and is charged 100% with solar energy. It does not qualify when installed without solar or if solar is installed after Powerwall.
California Self-Generation Incentive Program
Offered by the California Public Utilities Commission (CPUC) this program provides incentives to help reduce the costs of storage to consumers through the form of a financial rebate. Currently, the rebate is 15-20% of the average battery cost. Any PG&E customer can apply for this program.
For Medical Baseline customers living in Tier 2 or Tier 3 High Fire Threat Districts (HFTD) or have been shut off 2+ times during Public Safety Power Shutoff (PSPS), there are limited incentives available to offset the full price of the battery.
According to PG&E "Residential customers applying for battery storage incentives must transition to qualifying home charging rate schedules to be eligible to receive any SGIP storage incentives. This is to promote a reduction in greenhouse gas emissions by providing the right price signals to charge during ‘off-peak’ times when there are more renewables on the grid. You may also save money on these rates by charging your battery storage system during off-peak times and discharging it during ‘peak’ times." Homeowners can visit the PG&E website for more information.
