Texas Retail Provider To Provide 50% Discount On Energy Rate In Exchange For Controlling Home's Battery Storage

June 25, 2024

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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Octopus Energy announced a new program in Texas under which it will discount the customer's energy rate by 50% in exchange for allowing Octopus to manage the customer's home battery energy storage system

Under Intelligent Octopus for home batteries, customers connect their home battery to Intelligent Octopus in the Octopus Energy app and allow Octopus to control the battery, including exports to the ERCOT system

Octopus Energy covers the cost of charging the battery for energy that ends up being exported

In response to the question, "Do I pay for the power used to charge my battery?", an Octopus FAQ states, "No! You only pay for the power you consume. We cover the cost of charging the battery for the power sent back to the grid."

An answer to an Octopus FAQ states, "You will be billed at the 50% off rate based on your home's monthly consumption. Your battery must remain connected to receive the discount. If you disable your battery for more than 72 hours or consume more than 110% of your previous year's usage, you will be billed at the non-discounted rate."

Participating customers do not get paid for grid exports from the battery.

In response to the question, "Do I get paid for my exports", an Octopus FAQ states, "The short answer is no, but you gain that same monetary value from your exports through the 50% discount."

Currently, Intelligent Octopus for home batteries is available to Enphase and SolarEdge batteries, with Octopus stating that more compatible batteries are coming soon

Additionally, customers with a solar array that is used to charge the customers' battery are not currently eligible for the program. "We'll have a product that works with solar panels + a battery soon," Octopus states on its website

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