Around 3.5 million homes benefit from Economy 7/10 or ‘time-of-use’ tariffs in the UK where electricity prices change throughout the day according to national demand. The Department of Energy & Climate Change (DECC) announced in December 2015 that it would investigate barriers to the roll-out of smart tariff technologies. This could bring forward the existence of smart tariffs for all 24 million homes in the UK.
Powervault is compatible with ‘smart’, time-of-use or Economy 7 tariffs, which means Powervault will charge itself when electricity is cheap and discharge itself during peak times. This firmware technology is a standard feature on all Powervaults.