Sunrun Partners With Tesla to Support Texas Power Grid

By Connor Hart

Sunrun has entered into an agreement with Tesla Electric to support Texas' energy grid.

The San Francisco-based solar energy company on Tuesday said the partnership, terms of which weren't disclosed, will allow residents to receive compensation for sharing energy from their Tesla Powerwall batteries to help stabilize the electric grid for all Texans.

Customers will be compensated $400 annually per Powerwall for participation this year. Customers will retain a portion of the stored energy in their batteries to provide back-up power to their homes in the event of a power outage, and Sunrun will also earn incremental recurring revenue for the program, the company said.

The program, which marks Sunrun's first in Texas, has more than 150 customers and will scale up enrollments while dispatching stored solar energy from at-home batteries to rapidly increase available electricity reserves on the grid during periods of high consumption.

Tesla Electric, a retail electricity provider, is a subsidiary of Tesla.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

August 06, 2024 16:35 ET (20:35 GMT)

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