How To Get Free Electricity
You could be getting paid to use electricity.
Cheap electricity is great. But free electricity is better. And if there were a way to get paid for using electricity, wouldn’t that be the best option yet? Well, of course. But before Griddy, it wasn’t an option. Not for consumers, anyways. We changed that.
With Griddy, you get direct access to the real-time price of electricity. So whatever it costs at any given moment, that’s exactly what you pay. Since electricity rates fluctuate depending on supply and demand, there are plenty of times that electricity is completely free.
With other electric providers, you don’t get access to that free electricity, because they make money by marking it up. With Griddy, you always pay the real-time cost. So if it’s free, you use electricity for free. And when prices go negative (below $0.00/kWh), you get paid to use electricity.
Real-time pricing = a lot of free electricity
It’s as simple as it sounds: Whatever electricity costs from the source, that’s what you pay. Other electric providers will try to scare you away from real-time pricing with the fear of price spikes, promising that their fixed rate is the safe way to avoid those expensive spikes. But the reality is that price spikes simply don’t happen that often, and when they do, they don’t last very long.
Even with the fluctuations in prices this summer, the average real-time rate so far this year is 8.0¢/kWh. While there were 30 hours when prices went above 30¢/kWh, there were also 74 hours when prices went below 0¢/kWh – those were hours that you would have gotten paid to use electricity. So even when you take price spikes into consideration, the real-time price balances out and gives you plenty of hours of free electricity. Price spikes are offset by so many free or paid electricity times that you end up saving a ton.
The conclusion? Real-time rate wins in the long run.
How much free electricity can you get?
Since this is determined by supply and demand, it’s hard to project for sure. The great news is that these numbers are growing every year. Thanks to renewable energy, we have more and more sustainable sources of electricity driving prices down. See, whenever sources like wind and solar come onto the grid, prices are cheaper. And the amount of renewables on the grid has been growing and will continue to grow.
In fact, between 2017 and 2020, the number of hours with prices below 1¢/kWh have been increasing steadily:
- 2017: 246 hours
- 2018: 225 hours
- 2019: 325 hours
- 2020: 600 hours
We wholeheartedly expect this trend to continue, especially for Texas which generates more wind than any other state. In 2019, 20% of the grid was powered by wind – and that number can get up to 50% on certain days.
What does all of this actually mean for you? It means there’s really no saying how high your savings on electricity could be. What we do know is that it will become a better and better deal to pay real-time prices. And all you have to do to start getting that free electricity? Go Griddy.