The Vermont Public Utility Commission (VPUC) has issued an order approving the expansion of Green Mountain Power’s Tesla Powerwall and Bring Your Own Device (BYOD) home battery pilot programs into full-fledged residential battery programs.
The BYOD program is an open incentive system for customers looking to add a battery, while the Powerwall program allows customers to lease a system at a flat rate that provides savings over a standard installation.
The BYOD program offers customers up to $10,500 in upfront incentives to purchase their own batteries through local installers. The program is set to support at least 500 customers annually, until the 5 MW yearly storage cap is reached. Under this program, participating customers agree to provide access to stored energy during peak demand times, in order to meet demand and drive down the price of electricity. Moreover, the customers have a relatively expansive list of participating battery options to choose from.
The Powerwall tariff allows up to 500 customers to enroll each year, where they can choose to pay $55 per month for two Powerwall batteries in a 10-year lease which covers standard installation, with the option of five more years at no additional cost or just pay $5,500 up front. Akin to the BYOD program, customers agree to share their stored energy with GMP during peak deman times.
According to the utility, the BYOD and Powerwall programs will create millions of dollars in savings for all GMP customers.
Enrollment for the incentives start June 5th and both tariffs will be in place for the next two years, at which point they will be reviewed by the VPUC.
Customers can enroll directly with REV members or, starting on June 5, customers can begin the enrollment process through GMP’s webpage.