A Tesla owner in Nevada has shared a clever charging hack that he claims has significantly improved his finances. Matt Wallace, known as @mattwallacetech on TikTok, posted a video on September 18 explaining how he charges his Tesla for only $5 thanks to an incentive offered by his energy company.
In the video, Wallace advises other electric vehicle (EV) owners to check with their power companies to see if they offer any special EV rate plans for charging at home. He reveals that in Nevada, he is on a unique rate plan for EVs that allows him to charge his vehicle at a reduced rate, costing him only around $5 per charge.
This special rate plan is likely the Electric Vehicle Rate offered by Nevada Energy, the primary electricity provider in the state. This incentive is designed to assist customers who are uncertain about the best rate for their lifestyle and EV charging needs, while also aiming to reduce charging costs and help protect the environment. Additionally, the discounted rate applies to all energy used at a home during that specific time period, not just electricity used for charging an EV.
While Wallace mentions the rate in Nevada, many other utility companies in states like California and New York offer similar incentives for EV owners. Each state and utility company may have different rates and offerings, so it’s worth checking with your provider to see if you are eligible for discounted charging rates.
In some states, such as California, laws require energy companies to provide time-of-use rate options for EV owners. This allows customers to take advantage of lower rates during off-peak hours, usually late at night or early in the morning.
Wallace also highlights the ability to schedule charging times for his Tesla, ensuring that it charges during discounted hours when electricity prices are lower. By setting his vehicle to charge between 10 p.m. and 6 a.m., he avoids higher electricity fees and saves money on each charge. This scheduling feature can be accessed through both the vehicle settings and the Tesla app.
For Wallace, being able to charge his Tesla at a lower rate during off-peak hours has made a significant impact on his finances. Not only does it save him money, but it also ensures that he wakes up to a fully charged car every morning.
Overall, the key takeaway from Wallace’s experience is to explore EV rate plans offered by energy companies in your area, as they can provide significant cost savings for charging your electric vehicle at home. By taking advantage of these incentives and scheduling charging times wisely, EV owners can enjoy the benefits of a fully charged vehicle without breaking the bank.