Octopus Energy Unlocks New Savings For Tesla Powerwall Owners In UK And Spain

Octopus Energy, a British renewable energy company, has formed a new partnership with Tesla that will allow Powerwall home battery owners to save hundreds on their annual electric vehicle (EV) energy bills.

In detail, the partnership between the two integrates Tesla’s Powerwall with Octopus Energy’s advanced “Kraken” platform, enabling intelligent optimization of charging and discharging cycles. Through the integration, Powerwall owners in the UK and Spain can now access Octopus’ suite of smart “time-of-use” energy tariffs like Intelligent Octopus Flux.

Notably, this AI-powered plan automatically charges the Powerwall when renewable energy is abundant and prices are lowest, then sells stored power back to the grid during peak demand periods when rates are highest.

When it comes to saving estimates, Octopus Energy estimates the typical customer can save around £250 ($317) per year compared to a standard flat rate by flexibly shifting their electricity usage. Moreover, the smart battery management also supports balanced grid demand, delivering benefits for all consumers.

Rebecca Dibb-Simkin, Chief Product and Marketing Officer at Octopus Energy, expressed enthusiasm for the partnership with Tesla stating, “Two energy tech giants are coming together to get the most out of clean tech in people’s homes. Now that Powerwall is integrated into Kraken, it will pass on further savings for customers while helping to balance the grid.”

Tesla’s Director of Residential Energy Colby Hastings also added to the partnership with Octopus Energy stating, “This integration will increase value for homeowners while maintaining an excellent product experience. We are excited to collaborate with Octopus as we work towards powering the grid of the future.”

Furthermore, the partnership does not end with software integrations. Octopus Energy is now an officially certified installer for Tesla’s Powerwall battery systems across the UK and Spain, where the company aims to employ up to 4,000 new staff in 2024 to support the installation of solar panels, heat pumps, EV chargers and now Powerwall units for British and Spanish buyers.

With Tesla and Octopus Energy collaborating on a shared vision of a distributed and digitized electric grid powered by millions of home batteries and smart energy management software, the two companies aim to make residential battery storage increasingly affordable and valuable as the acceleration toward the transitions to electric mobility is prioritized. The new Powerwall capabilities are also available to other Kraken partners.

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