Connect with us
tesla powerwall vpp tesla powerwall vpp

News

Tesla Solar + Powerwall more than covers monthly payment after a week of VPP events

Credit: Mark Gillund

Published

on

Tesla owner Mark Gillund of Sacramento, California, will not be paying out of pocket for his solar and battery system’s monthly payment this month. This was because his home is part of Tesla’s California Virtual Power Plant (VPP), which has been providing backup power to the grid as the state continues to deal with challenges brought about by the recent heatwave. 

Mark Gillund placed his order for a Tesla Solar + Powerwall system in June last year. By the second week of August 2021, his solar panels and batteries were installed, though the homeowner had to wait until early September 2021 before the system was actually turned on. The setup was quite impressive, with its 12.24 kWh solar array, three Tesla Powerwall batteries, and two inverters. This, Gillund believed, would be a good way to reduce his home’s typical power bill, which hits about $650 per month during summer. 

The benefits of the solar panels and Powerwall batteries were immediately evident, with the Tesla owner noting that his home’s power charges dropped to just the $10 minimum every month. Thus, when Tesla launched its California Virtual Power Plant, the Powerwall owner promptly opted in. With the rollout of the program’s $2 per kWh incentive, joining the California VPP made even more sense. 

With California dealing with a serious heatwave, the state’s grid has seen its own fair share of challenges as of late. Tesla’s California Virtual Power Plant promptly went to work, providing the grid with backup renewable energy as needed. Lastbulb’s VPP tracker suggests that there are now over 4,600 homes that are participating in the California Virtual Power Plant, and so far, the system has provided about 577 MWh of energy to the state’s grid. 

Gillund’s Tesla Solar + Powerwall system participated in the recent VPP events, sending 35 kWh back to the grid during the September 9 event alone. Overall, the homeowner’s solar and battery system had sent a total of 255 kWh during the ongoing heat wave. This meant that the system had been able to earn $510 in compensation with just a week’s worth of VPP events. This was more than enough to cover the monthly payment of Gillund’s entire solar and battery system. 

Advertisement

As mentioned by Gillund to Teslarati, the monthly fee for his Powerwall and solar loan is $400. This meant that as long as his home sends over 200 kWh of power to the grid, the system could effectively pay for itself. In a way, this is pretty much the cherry on top for the homeowner, as his Powerwall and solar system had actually been cash positive so far. 

Gillund was fortunate enough to receive a $14,000 tax credit for his solar and batteries, so he’s still paying for the system’s monthly fees with that amount. The earnings of the system through his home’s participation in the California Virtual Power Plant could then be considered an extremely welcome extra. It could also be proof that Tesla CEO Elon Musk was really onto something when he noted that renewable energy solutions could effectively become a money printer of sorts. 

Check out Gillund’s insights on the CA VPP in the video below. 

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Advertisement

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Advertisement
Comments

News

Tesla gets price target increase on Wall Street, but it’s a head-scratcher

Delaney’s price target on Tesla shares went up to $395 from $300. Currently, Tesla is trading between $420 and $430, making the new price target from Goldman Sachs a bit of a head-scratcher.

Published

on

Credit: Cybertruck | X

Tesla (NASDAQ: TSLA) received a price target increase from a Wall Street analyst today, who noted in his report that the company’s shares could rise or fall based on its execution in robotics and autonomy.

However, the price target boost still fell below Tesla’s current trading levels.

Mark Delaney of Goldman Sachs said in a note to investors today that Tesla has a significant opportunity to solidify itself as one of the stable and safe plays in the market if it can execute on its two key projects: humanoid robots and autonomy.

In the note, Delaney said:

“If Tesla can have [an] outsized share in areas such as humanoid robotics and autonomy, then there could be upside to our price target.”

Delaney’s price target on Tesla shares went up to $395 from $300. Currently, Tesla is trading between $420 and $430, making the new price target from Goldman Sachs a bit of a head-scratcher.

He went on to say that Tesla could also confront outside factors that would limit the stock’s ability to see growth, including competition and potentially its own lack of execution:

“…although if competition limits profits (as is happening with the ADAS market in China) or Tesla does not execute well, then there could be downside.”

The note is an interesting one because it seems to point out the blatantly obvious: if Tesla performs well, the stock will rise. If it doesn’t, the stock price will decline.

We discussed yesterday in an article that Tesla is one of the few stocks out there that does not seem to be influenced by financials or anything super concrete. Instead, it is more influenced by the narrative currently surrounding the company, rather than the technicals.

Tesla called ‘biggest meme stock we’ve ever seen’ by Yale associate dean

Tesla’s prowess in robotics and autonomy is strong. In robotics, it has a very good sentiment following its Optimus project, and it has shown steady improvement with subsequent versions of the robot with each release.

On the autonomy front, Tesla is expanding its Robotaxi platform in Austin every few weeks, and also has a sizeable geofence in the Bay Area. Its Full Self-Driving suite is among the most robust in the world and is incredibly useful and accurate.

The company can gain significant value if it continues to refine the platform and eventually rolls out a driverless or unsupervised version of the Full Self-Driving suite.

Continue Reading

Elon Musk

Tesla addresses door handle complaints with simple engineering fix

“We’ll have a really good solution for that. I’m not worried about it.”

Published

on

Tesla Model S self-presenting door handle
Tesla Model S self-presenting door handle (Credit: TesBros)

Tesla is going to adjust one heavily scrutinized part of its vehicles after recent government agencies have launched probes into an issue stemming from complaints from owners.

Over the past few days, we have reported on the issues with Tesla’s door handle systems from both the Chinese and American governments.

In China, it dealt with the Model S, while the United States’ National Highway Traffic Safety Administration (NHTSA) reported nine complaints from owners experiencing issues with 2021 Model Ys, as some said they had trouble entering their car after the 12V battery was low on power.

Bloomberg, in an interview with Tesla Chief Designer Franz von Holzhausen, asked whether the company planned to adjust the door handle design to alleviate any concerns that regulatory agencies might have.

Regarding the interior latch concerns in the United States:

  • Von Holzhausen said that, while a mechanical door release resolves this problem, Tesla plans to “combine the two” to help reduce stress in what he called “panic situations.”
  • He also added that “it’s in the cars now…The idea of combining the electronic and the manual one together in one button, I think, makes a lot of sense.” Franz said the muscle memory of reaching for the same button will be advantageous for children and anyone who is in an emergency.

Regarding the exterior door handle concerns in China:

  • Von Holzhausen said Tesla is reviewing the details of the regulation and confirmed, “We’ll have a really good solution for that. I’m not worried about it.”

The new Model Y already has emergency mechanical door release latches in the back, but combining them in future vehicles seems to be an ideal solution for other vehicles in Tesla’s lineup.

It will likely help Tesla avoid complaints from owners about not having an out in the event of a power outage or accident. It is a small engineering change that could be extremely valuable for future instances.

Continue Reading

News

Elon Musk calls out viral claim of 10,000 Tesla Optimus deal: “Fake”

For now at least, Tesla seems determined to focus on the development of Optimus V3.

Published

on

Credit: Tesla Optimus/X

Elon Musk has provided some clarification to recent reports suggesting that PharmAGRI, a US pharmaceutical and agricultural infrastructure company, is looking to deploy 10,000 Optimus robots for its operations.

Musk posted his clarification on social media platform X.

Alleged Optimus purchase

Recently, reports emerged stating that PharmAGRI Capital Partners will be tapping into Tesla’s humanoid robots for its operations. The firm claimed that it had executed a Letter of Intent with Tesla to deploy up to 10,000 Optimus Gen 3+ humanoid robots across its SuperPharm and CEA facilities. This should allow the company to automate its labor and ensure diversion control.

A comment from Lynn Stockwell, Chairwoman & CEO, suggested that the company really was partnering with Tesla. “With Tesla robotics powering our facilities and DEA-licensed infrastructure in place, we can scale with precision, meet federal sourcing mandates, and deliver therapies that are compliant, secure, and American-made,” she said. 

Elon Musk clariies

News of PharmAGRI’s Optimus claims quickly spread on social media, though some Tesla watchers argued that it seemed unlikely that the EV maker will commit two legions of Optimus robots to a rather unknown company this early. Some pointed out that Tesla typically commits to high-profile customers to test its early products, such as PepsiCo with the Tesla Semi. 

Advertisement

Photos from PharmAGRI’s website depicting Tesla Optimus bots, as well as the rather basic look of the website itself, also brought more reservations to the company’s claims. Ultimately, Elon Musk weighed in on the matter, responding to a post about PharmAGRI’s Optimus-filled webpage. Musk was quick and direct, simply stating, “Fake.”

Elon Musk’s comments were quite unsurprising considering that Optimus is still very much in active development, and thus, it is quite unlikely that the company is already taking orders or even Letters of Intent from potential customers at this time. For now at least, Tesla seems determined to focus on the development of Optimus V3, which Musk has noted will be “sublime.”

Continue Reading

Trending