Octopus Energy and Tesla announce new initiative to unlock low-cost, green energy

Octopus Energy announces that Tesla Powerwall customers can unlock low-cost, green energy through Kraken.

Powerwall customers can maximise earnings by drawing cheap, clean energy from the grid when it is most abundant, and unloading onto the grid at peak times – all fully automated by the Kraken platform.

This integration allows Powerwall customers to access Octopus’ range of smart tariffs, including ‘Intelligent Octopus Flux’.

Colby Hastings, Director of Residential Energy at Tesla, said: “This integration of Powerwall with Octopus Energy will increase value for homeowners while maintaining an excellent product experience. We are excited to collaborate with Octopus as we work towards powering the grid of the future.”

The tariff maximises customers’ earnings by responding flexibly to prices throughout the day – charging their batteries when prices are low and selling when they are high to support the grid during peak periods – saving average customers £250 a year compared to a standard import and export tariff

Home batteries save money for all customers – not just those who own them – because in combination with smart tariffs, they help balance the entire grid.

In addition to the integration, Octopus Energy is now certified to install the Tesla Powerwall in Spain and the UK. The solar-powered home batteries will be installed by Octopus’ services arm.

Rebecca Dibb-Simkin, Chief Product and Marketing Officer at Octopus Energy, said: “Two energy tech giants are coming together to get the most out of clean tech in people’s homes. Now that Powerwall is integrated into Kraken, it will pass on further savings for customers while helping to balance the grid.”

Kraken is contracted to manage over 54 million customer accounts globally through licence agreements with energy giants like E.ON, Origin Energy and EDF. 

Find out more here.