A Tesla owner in Nevada shared a charging hack that he claims has significantly improved his finances.
On Sept. 18, Matt Wallace (@mattwallacetech) shared a video breaking down an incentive offered by his energy company that allows him to charge his Tesla for only $5.
“If you charge your electric vehicle at home, I highly recommend looking into your power company’s terms and see if they offer some sort of EV rate plan for charging your electric vehicle at home,” said Wallace in his TikTok.
What Is An EV Rate Plan?
“Here in the state of Nevada, I’m on a very special rate plan for EVs, where if I charge my vehicle at a certain time of the day, I actually get a reduced rate plan to the point where charging this thing costs maybe around five bucks,” he says.
Wallace is likely referring to the Electric Vehicle Rate offered by Nevada Energy, the primary electricity provider in the state. The energy company states that this incentive is provided “to help customers who are uncertain about the best rate for their lifestyle and electric vehicle charging needs,” aiming to reduce charging rates and help to preserve the environment.
While this plan is specifically for EV owners and requires Nevada Energy to access the customer’s electric meter, the company states that “the discounted rate applies to all of the energy used at a home or apartment during that period of time, not just electricity used to charge an electric vehicle.”
Do Other States Have Similar Plans?
While Wallace specifically mentions the rate he receives in Nevada, many other utility companies in states across the country, such as California and New York, offer similar incentives. Electric vehicle owners can learn if they are eligible for similar rates by inquiring with their energy providers.
These rates can vary across states and individual utility companies in each state. Additionally, some states, such as California, have enacted laws that require energy companies to offer time-of-use rate options for electric vehicle owners.
Can You Schedule Your Tesla To Charge During Discounted Hours?
Wallace also specifies that in the case that a Tesla owner is asleep or not present during off-peak hours—usually late night to early morning—Tesla has a feature where you can schedule your vehicle to begin charging at a specific time.
“I have this thing set so that it will start charging at 10 p.m. until it’s fully charged, but it will stop at 6 a.m. just to avoid those higher electricity fees,” he said. Wallace specifies that you can schedule your Tesla to be charged in both the vehicle settings and via the Tesla app.
For Wallace, being able to schedule his Tesla to charge while his electricity prices are cheaper has made a significant impact on his finances. “It’s made my life a lot better in terms of my wallet because it actually saves me a lot of money charging in the middle of the night, and I get to wake up and have a fully charged car.”
