The cost of a Powerwall system plus installation is about $5,500, so the company was investing $8 million of its own money up front and betting it would recoup that investment over time. The program represented a significant cash outlay for Green Mountain Power. All those Powerwalls would be accessible by the utility company to help stabilize the grid and supply extra electricity, when needed. Last year, Green Mountain Power started offering 2,000 customers a chance to own a Tesla Powerwall residential storage battery for as little as $1,500 and $15 a month for 10 years. One utility company in Vermont is using a virtual power plant (VPP) comprised of 2,000 Tesla Powerwalls installed in homes across the state to beat the heat. Whether the heat is because of stalled jet streams or Mars being in retrograde, it has made people rush to turn on their air conditioners in record numbers, even in Vermont where a heat wave is officially defined as anything over 75 degrees.
It’s been hot in New England this summer.
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