With a possibility of earning up to $1,500 per year, your battery can surely pay you back, causing you to gain from utility programs. Already in the Northeast, utility companies have started offering rewards to those homeowners who have enrolled their batteries in grid support programs. The ConnectedSolutions program is one program set to pay out up to $1,500 per year for all homeowners who enroll their batteries in the program.
ConnectedSolutions is at the very forefront of endorsing home batteries
ConnectedSolutions has understood the need for home batteries and makes the offer of investing in home batteries more lucrative by turning these home batteries into financially feasible options. The virtual power plant (VPP) program, ConnectedSolutions, is now available for utility consumers who live in Rhode Island, Massachusetts, and Connecticut and offers eligibility for some utility customers in New York.
Through the “bring-your-own-battery” program, all homeowners can choose to contribute the stored power in their battery to the grid, especially when electricity is in high demand. Homeowners who bring their own battery and provide power to the grid get financially compensated for their contribution to the grid.
Homeowners can bring their batteries to any of the participating utilities, which include:
- The National Grid
- Eversource
- Rhode Island Energy
- Cape Light Compact
When enrolled in the program, the utility can tap into your battery during peak energy demand times, using your battery to fire up power plants. All participating homeowners are eligible to receive between $225 and $275 per kilowatt (kW) of power contributed, which works out to more or less $1,500 in income annually for a single home battery.
More about this beneficial program contributing to the grid
Included in the list of batteries seen as being eligible are: Tesla Powerwall, Enphase, Panasonic, Sonnen (in MA only), FranklinWH, and many others as well. Therefore, any citizen with an eligible battery living in one of the listed states where the program is available can share their battery’s output with the national grid or any other participating utility.
The amount that each homeowner receives will be based on their respective battery output, as well as how regularly their battery may be called on to provide to the grid. An estimated amount of between $4,000 and $9,000 is offered for those citizens part of the program over time. The best part is that the power of the battery still remains in the hands of the citizen, who is more than welcome to utilize his or her battery outside of such high-energy demand events. On average, there will be between 15 to 60 events that will last for a few hours, ensuring that the battery never drains to zero. Participation is automatic once enrolled, benefiting homeowners with cash incentives while simultaneously benefiting utilities that no longer need to buy expensive energy.
All eligible citizens can sign up to reap the benefits from ConnectedSolutions
Those living in the accepted states with qualifying home batteries can give consent to having their batteries remotely accessed when peak demand times arise. Applications for enrolment can be submitted using a platform like MassSave (for MA residents). Manufacturers like Tesla or Enphase provide more streamlined enrolment options through their mobile apps or web portals.
Batteries now have dual potential, firstly that of ending home energy bills and then allowing owners to earn money for their power as well. The good news is that those who own a smart thermostat could also be eligible to enroll. Although incentives will be considerably smaller for a smart thermostat owner, the incentives will add up eventually.
Battery storage is positively impacting your wallet
The Connected Solutions Program is one that offers financial incentives for citizens making sustainable choices. By investing in a qualifying battery and having the battery provide power to the utility, you can eventually offset your installation costs, earning a lucrative sum of $1,500 yearly. Incentives have been locked in for the next five years, so it’s time for citizens to let their batteries work for them. With floors that turn into living batteries, battery solutions are really working out for citizens.
Disclaimer: Our coverage of events affecting companies is purely informative and descriptive. Under no circumstances does it seek to promote an opinion or create a trend, nor can it be taken as investment advice or a recommendation of any kind.
