Tesla is much more than just an automaker. It is a technology and software company, an energy company, and now, it is becoming its own utility company. Last evening at its 2024 Investor Day event, Tesla announced a new plan for unlimited overnight EV charging for just $30 per month. This could be a game-changer for the US EV maker and the US electric grid in general.
Tesla’s virtual power plants program was a stepping stone to launching its own “Tesla Electric” energy utility business. This new division will allow Tesla to offer the overnight charging plan to owners with a Tesla Powerwall and living in Texas. Senior vice president of engineering Drew Baglino shared that by summer, Tesla will offer retail electricity plans to people who have their cars, with unlimited overnight home charging for $30 per month. This is part of reducing the total cost of ownership of their vehicles, and the reason why they can do this is because Texas has a ton of wind, and the wind blows at night.
Texas currently relies on its own aging power grid, which isn’t connected to the rest of the US grid like other states. With Tesla owners potentially subscribing to the plan and charging overnight via Tesla’s business, it will take some load off Texas’ grid. CEO Elon Musk also previously mentioned that Tesla could help fix the grid in Texas with a commercial battery energy storage system. The Tesla Electric plans in Texas are expected to become available in July 2023, with other locations launching thereafter.
Tesla’s new plan for unlimited overnight EV charging could be a major game-changer for the US EV maker and the US electric grid in general. It will help reduce the total cost of ownership of their vehicles, and it will also help take some load off Texas’ aging power grid. With Tesla Electric plans becoming available in July 2023, it will be interesting to see how this new plan affects the US electric grid.
FAQ
Q1: Are electric car batteries recyclable?
A1: Yes, electric car batteries are recyclable.
Q2: Are electric car chargers free?
A2: It depends on the charger and the location. Some electric car chargers are free, while others may require a fee.
Q3: Can electric car batteries be rebuilt?
A3: Yes, electric car batteries can be rebuilt with the right tools and knowledge.
