Green Mountain Power to Offer Tesla Home Battery

01 May 2015

COLCHESTER, VT--(Marketwired - May 01, 2015) - Green Mountain Power is pleased to announce that it will be one of the first energy companies in the country to offer Tesla's new home battery, the Powerwall, to customers. Tesla, best known for its groundbreaking, fully electric cars, is taking its electric energy storage expertise to the next level with this energy storage solution for the home.

This exciting innovation in battery technology is part of delivering on Green Mountain Power's mission to deliver cost effective, low carbon and reliable energy solutions for its customers. The technology will empower customers to become more energy independent while also allowing the company to reduce peak demand on the system, providing cost savings to all of its customers.

"We are excited to bring Tesla's Powerwall to our customers. The Powerwall offers greater energy independence for customers, and offers GMP an opportunity to reduce peak demand on our system, which saves our customers money," said GMP President and CEO Mary Powell. "This is a great example of how GMP, as Vermont's Energy Company of the Future, is empowering customers to have more control over their energy choices while saving money and increasing reliability."

The Tesla home battery can be paired with small-scale solar such as rooftop panels to store locally generated energy, or it can be used without solar as a battery to store power from the grid. During a storm or emergency, the battery is able to power essential parts of the home like lights, a refrigerator, and furnace. GMP will partner with customers to utilize the batteries during peak energy times to directly lower costs for customers by reducing transmission and capacity costs.

"This is a great example of how Vermont is leading the way with real-world solutions to a more sustainable future," said Powell. "We want to create a new definition of resiliency, where we move away from the 100-year-old grid system to a new electric system where energy is generated and used closer to home."

GMP will begin receiving Powerwalls in October and rapidly deploy them to customers in Rutland, the Energy City of the Future, and then statewide. GMP will partner with customers by offering product incentives combined with on-bill financing to ensure customers can access these products and deliver the full value they bring to the grid.

"This is another important step in putting Vermont and Rutland on the map as energy leaders," said Rutland Mayor Chris Louras. "We have seen some devastating storms in the city, including Tropical Storm Irene and the Nor'icane, and we appreciate all the work GMP is doing to help increase reliability and resiliency in our community through energy innovation, as with this new Tesla home battery offer."

To learn more about the Tesla batteries, go to http://www.teslamotors.com/presskit/teslaenergy.

For more information go to http://www.greenmountainpower.com/products-services/overview/powerwall/

About Green Mountain Power
Green Mountain Power (GMP) serves approximately 265,000 residential and business customers in Vermont and has a vision to be the best small company in America by partnering with Vermonters to improve lives and transform communities. GMP is focused on a new way of doing business to meet the needs of customers with integrated energy services that help people use less energy and save money, while continuing to generate clean, cost-effective and reliable power in Vermont. GMP is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. In 2014, Vote Solar named GMP a Solar Champion. More information at: www.greenmountainpower.com. Connect with GMP on Facebook and follow us on Twitter @GreenMtnPower.