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Oncor Provides Update On Opening Smart Thermostat Funding Program To All Texas REPs
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In providing an update on a pilot program under which Texas retail electric providers are reimbursed under the TDU's energy efficiency budget for providing a smart thermostat to residential customers, Oncor provided an update on when the program could be open to all REPs
The program provides a $100 incentive to REPs for each qualifying smart thermostat installation at a residential customer premise
See background on the program here
Currently, under the pilot phase, the program is limited to 4 REPs. Oncor indicated that these REPs are Reliant, TXU, Octopus, and Rhythm.
Oncor "hope[s]" to open the program to all REPs in early January 2025
Oncor said that about 200 thermostats have been paid under the program, but a significant increase in payments is expected by year-end
The pilot is running from August 2024 through Nov. 2024
In a separate presentation, Vistra said that program fees help offset some costs, but noted that, "REPs will still need to take upfront funding risks to scale
(customer churn) due to all-in costs vs. upfront incentive dollars potentially impacting participation rates."
In a separate presentation, Reliant listed as challenging the "low" ($100) reimbursement amount
Among other things, Reliant suggested increasing the funding level per thermostat/install
Reliant expects to deploy at least 50% of its allocated funding ($200,000) by
December, but will most likely not deploy all funds allocated
by the program. Each of the four REPs were allocated $200,000
Project 38578
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October 15, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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