Hawaiian Electric Company offers discounted Electric Vehicle Time-Of-Use (TOU) rates. These pilot rates are designed to encourage EV owners to charge their vehicles “off-peak” (from 9 p.m. to 7 a.m.) to have the least impact on island grids. Off-peak electric rates are about six cents per kilowatt hour (kWh) below the typical residential rate. During the daytime peak period rates are two to six cents per kWh higher than the typical rate. Customers who are enrolled in Net Energy Metering (NEM) and also opt for an EV TOU rate may reap the benefit of combining the two. Here’s how:
NEM provides customers who have a PV system full retail credit for excess energy not used by the customer and exported to the utility grid. Any excess will likely be generated during the peak period and thus provide EV customers a credit two cents higher than typical rates. Thus, customers with NEM on an EV TOU rate may net an added eight cents per kWh difference between excess daytime generation and off-peak charging rates. An EV customer with NEM may effectively experience a slightly larger off-peak discount or be able to install a slightly smaller PV system.
Visit http://GoEV.heco.com for more information on EVs or to enroll on an Electric Vehicle TOU rate.
