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Last year, Tesla announced its entry into the retail electric market with the launch of Tesla Electric. Now the clean energy company wants customers to charge their electric vehicles overnight for a flat $30 monthly fee. However, you must live in Texas to take advantage of the new subscription plan.
Tesla’s senior vice president of engineering, Drew Baglino, announced the plans during the company’s meeting. investor day, stating: “This is part of reducing the total cost of ownership of our vehicles and the reason we can do this is because Texas is very windy. And in Texas, the wind blows at night.”
The plan takes advantage of the fact that Texas generates the most wind power of any US state. The low price of $30 per month for unlimited overnight charging is designed to incentivize customers to use wind generated power by Tesla Electric in the Lone Star State. However, prospective customers must subscribe to Tesla Electric and own a Tesla Powerwall energy storage battery.
Business Insider reports that the average cost to charge an EV at home is $56 per month. So a discount of $26 per month equates to a savings of nearly 50% on EV charging costs. Baglino stated that Tesla Electric intends to implement the new program by the summer of 2023.
Sources: Business Insider, electric
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