Elon Musk’s plan to “acts like a giant distribution utility” is climbing towards reality.
First, Tesla piloted a “virtual power plant” in California, where electric wall Home battery owners are invited to sell electricity back to the grid at peak times to minimize power loss. Right after that, the car company extend efforts into Australia and Japan, and then to Texas — with a twist.
On Thursday, the company announced Tesla Electrican electricity program offered exclusively in parts of Texas where retail options available, like Houston and Dallas. The product that turns Tesla into a retail electricity supplier Lone Star state and allows Powerwall owners to resell some of their excess electricity to the grid, with Tesla acting as the intermediary.
Importantly, this product is available to invitees only. If you own one of Tesla’s large batteries and have a home in a deregulated area of Texas, you will “see a banner appear on your Powerwall homepage in the Tesla app,” Tesla said.
While Tesla Electric built its vision to grow beyond the auto industry, other automakers are toying with the idea, too. including GMworking with solar seller Solar; and Toyotatoday said it is partnering with a utility company in Texas.
Tesla’s energy business has seen some ups and downs this year. In July, Tesla said its solar business was on record best quarter in several years. Four months later, a report from electricity says that Tesla recently canceled some of its solar reserves and laid off workers in the division.