Utilizing PECO Time-of-Use Rates

Summary

Micah

Before the show, we were talking about the fact that you’re somewhat of a guru on time of use rates for PECO. Can you explain a little bit about what’s going on with Time of Use rates here in Philadelphia and how you utilize them? 

David

It was really interesting because I had signed up with Solar States before Time of Use rates were announced, and I saw it coming and I was talking with Dan back and forth about it a little bit.

So I was like, Hey, what the heck? Let’s give this a try. The Time of Use rates are very different, so it’s super cheap in the middle of the night and it’s very expensive in the afternoons. And not to get lost in the number, but peak costs four times as much as off peak and seven times super-off peak.

I have two electric vehicles. I charge both of those at home, and the combination of solar with the Tesla Powerwall means I never pay for off-peak. I never pay for any on-peak rates. The only electricity I buy, and I do buy electricity from PECO every month, I buy super off-peak.

Why do I do that? I could use the Powerwall to allow it to use the minimum amount of electricity possible. But I choose to charge my electric vehicles and pay PECO the three and a half cents per kilowatt hour to charge them, because it’s very low. And then during the day when solar production is high, my battery is full and I sell all that excess power back to the grid.

Let me translate this into dollars for you. I’ve been generating solar power for 18 months and not all that was on timer use. And in that 18 months I’ve paid PECO a total of $13 and 13 cents for electricity, And if you just look at the current solar year (11 months), all time of use, PECO owes me $555 and 5 cents.

And I don’t pay for gasoline.