Tesla partners with Sunrun on its electric plan in Texas

Tesla, through its Tesla Electric division, is partnering with Sunrun to offer electric plans to Texas homeowners.

After gaining experience through its virtual power plants (VPPs), Tesla took things a step further with the launch of “Tesla Electric” back in 2022.

Instead of reacting to specific “events” and providing services to your local electric utilities, as Tesla Powerwall owners have done in VPPs in California, Australia, and a few other markets, Tesla Electric is actively and automatically buying and selling electricity for Tesla Powerwall owners – providing a buffer against peak prices.

The company is essentially becoming an energy retailer.

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Tesla Electric is currently only available to Powerwall owners in a few markets, primarily in Texas and the UK.

Now, Tesla is partnering with Sunrun to launch a new Sunrun Flex plan to customers in Texas:

Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, announced today an innovative home energy plan in partnership with retail electric provider Tesla Electric (Nasdaq: TSLA). Created exclusively for Sunrun Flex™ customers in Texas, this new home energy plan is designed to maximize solar production, battery backup power for outages, and energy independence.

Here are the advantages of the program listed by Sunrun:

• Cost Predictability: Customers enjoy predictable, affordable monthly payments, with the ability to “flex” their energy usage as life changes.
• Managed Settings: Tesla will coordinate electric rates, battery settings, and solar crediting to ensure the most value creation for customers.
• Seamless Experience: Coordinated customer service between Sunrun and Tesla to ensure a seamless experience that integrates the electric plan and Flex system.
• Rollover Credits: When customers use less energy than their baseline, they earn rollover credits to apply against future months when they exceed their baseline.
• Performance Guarantee: Every Sunrun Flex subscription includes 24/7 system monitoring, free maintenance and repairs, along with solar performance and battery health guarantees.

In short, the partnership uses Tesla’s Powerwalls and Sunrun’s solar systems at customer homes to offer a stable electric utility plan.