Pacific Gas & Electric Company (PG&E) residential customers can now take advantage of incentives in the thousands off the price of qualifying GM Energy home charging and energy management products. GM has joined PG&E’s vehicle-to-everything (V2X) pilot program, enabling energy customers to bundle their GM Energy systems and eventually get paid to supply excess energy back to their local grid.
While this particular incentive program only applies to certain customers of PG&E, it is big news for the growing segment of home energy management solutions, including energy storage systems, solar panels, and bidirectional EV charging.
GM Energy, the home and commercial charging solutions arm, spun out from Ultium Charge 360 three years ago, is establishing itself as a leader in that segment. In the summer of 2023, GM Energy launched its initial portfolio of Ultium Home products, which consisted of three separate bundles complete with vehicle-to-home (V2H) charging capabilities.
In May of 2024, GM Energy showed off the capabilities of its energy management products by powering an entire mansion using the products and a Chevy Silverado EV. Since then, GM Energy has expanded its business to all 50 United States, giving EV owners nationwide access to its portfolio of energy management products, which also includes two versions of an energy storage system (ESS) called PowerBank, which was introduced last October.
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With a growing lineup of home energy management and EV charging solutions, GM Energy is working alongside PG&E to expand its reach by incentivizing those customers to implement said technologies and explore more sustainable solutions. There may also be an option for vehicle-to-grid capabilities, which could be an absolute game-changer in how we use and manage our daily energy.
Source: GM Energy
PG&E customers can save $4,500 on GM Energy charging
GM shared that now that it has joined PG&E’s V2X pilot program, those energy customers in Northern and Central California can take advantage of incentivized pricing on specific charging and power hub products.
Customers who enroll in the Vehicle-to-Everything pilot program can receive up to $4,500 off the price of GM Energy home products, such as its Vehicle-to-Home (V2H) Bundle, which includes a PowerShift EV charger and V2H Enablement Kit or the all-encompassing Home System, which includes bidirectional EV charging plus a GM Energy PowerBank, Home Hub, and Inverter.
GM Energy’s products also currently qualify for federal tax incentives, so PG&E customers can get a robust energy management setup complete with EV charging for upwards of $5,000 off. GM Energy Vice President Wade Sheffer spoke about these savings opportunities:
For Northern California customers looking to take more control of their home energy, this program with PG&E represents a great opportunity. For utilities, legislators, customers and others, this pilot is an opportunity to see the full value of our V2H technology beyond just providing power to a home during power outages. This can be a tool that helps overall grid resiliency and showcases the unique advantages of EVs while, in the future, may even reduce the overall total cost of EV ownership.
In exchange for the incentives, GM Energy and PG&E plan to study charging data from customers to evaluate the potential of bidirectional charging and its ability to support electrical grids by flushing excess energy from those storage devices (EVs, PowerBanks, etc) during peak energy demand.
The goal is to scale bidirectional c,harging installations to more PG&E customers and eventually throughout all of California to demonstrate the energy freedom and financial benefits it can provide to all customers. Mike Delaney, Vice President of utility partnerships and innovation at PG&E also spoke:
PG&E is leading the way to enable vehicle-grid-integration technology creating a path for EVs to power customer homes, ultimately benefiting all Californians. We are proud to continue leading this electric renaissance as we collaborate with automakers and some of the world’s top innovators to pioneer bidirectional charging technology where EVs have the potential to offer greater reliability, resiliency and cost savings.
To begin, the following GM EVs will be eligible for the V2X program, but the American automaker plans to add all 2025 model-year EVs soon:
You can learn more about the PG&E pilot program and bidirectional charging on GM Energy’s website and enroll here. GM also provided more details of the capabilities of its home energy management products in the video below:
Source: GM Energy
Electrek’s take
While this particular incentive program only applies to customers from one energy company in a single state, PG&E is a behemoth in California, and it’s encouraging to see it at least exploring the possibility of bidirectional charging enabling vehicle-to-grid capabilities.
Anyone who will lend an ear has heard me go on and on about how the energy companies should be shaking as more energy management power (and freedom from the grid) is being put into the hands of individual homeowners. I can easily imagine a world where most homeowners have an EV paired with solar panels on their roof and some sort of power bank in their garage. They can charge their vehicle and power their home during peak hours using free energy from the Sun and/or store it to sell back to energy companies via V2G.
Say you’re going out of town for a week and you know you won’t need your car or the energy you’ve gained from solar. Flush it back to the grid when everyone is home from work at night and booting up Netflix, and you’ll get some money back on your monthly bill!
It’s a no-brainer to me, and I see V2G as inevitable. That said, I feel most energy companies will fight tooth and nail to at least slow that transition down to maintain their energy monopolies as long as possible. That’s why it’s refreshing to see a company like PG&E at least open to possibility… especially since it’s an energy company that’s not exactly known for its moral fiber (see Erin Brockovich).
California often serves as a crystal ball into the future for the rest of the US, so this pilot program, albeit small, is a step forward in full-scale integration throughout the state and into additional ones. We must wait and see what the data brings before anything becomes a bonafide standard for energy customers. Still, this program does offer a sweet little taste of a future in which sustainable energy becomes widespread… not because it’s the right thing to do unfortunately, but because it will save everyone money.
Well, maybe not the energy companies, but they will continue to do just fine.
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Mere weeks after signing an agreement with Utah Aerospace and Defense to bring Advanced Air Mobility (AAM) to the state, eVTOL and eCTOL developer BETA Technologies demonstrated the capabilities of its aircraft through a series of successful flights over the course of three days.
BETA Technologies is a fully integrated electric aircraft and systems developer based in Vermont. It’s been three years since the young company debuted its first electric vertical takeoff and landing (eVTOL) aircraft, the ALIA–250.
That BETA vessel has since been renamed the ALIA VTOL and completed a piloted test flight transitioning mid-air about a year ago. We also got a closer look at its five-passenger interior this past October.
In addition to the ALIA VTOL, BETA has also been developing an electric conventional takeoff and landing (eCTOL) plane called the ALIA CTOL. It has flown tens of thousands of test miles en route to evaluation flights for FAA certification. As we’ve reported in the past, that aircraft is targeting full approval for commercial operations by 2025.
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BETA has completed its first bonafide production build of the eCTOL in South Burlington. Following a Special Airworthiness Certificate from the Federal Aviation Administration (FAA), the production-ready aircraft took to the skies for a test flight last November, piloted by its founder and CEO.
Most recently, BETA signed an agreement with 47G (Utah Aerospace and Defense) to establish AAM operations in the state, to work alongside the Utah Department of Transportation (UDOT) and the Governor’s Office of Economic Opportunity (GOEO) to identify locations to install multimodal charging infrastructure and identify priority routes for eVTOL and eCTOL rides.
To garner excitement for its technology, BETA recently completed three days’ worth of ALIA eCTOL demonstration flights around Utah to showcase the quiet, efficient mobility potential of its aircraft.
The ALIA eVTOL above Utah / Source: BETA Technologies
BETA’s eCTOL technology shines above Utah
BETA Technologies shared details of its successful eCTOL flight demonstrations, including the aircraft traveling to six different Utah airports covering over 350 miles. Those visits included Salt Lake City Airport, Provo Airport, Heber City Airport, Logan-Cache Valley Airport, Ogden Airport, and Vernal Airport.
BETA shared that its all-electric flight technology is not only quieter and more sustainable but also cuts the travel distance to those airports by two-thirds compared to relative drive times. 47G and UDOT hosted the flight demonstrations alongside BETA Technologies as the former works to bring commercial operations to the state. Carlos Braceras, Executive Director of UDOT, spoke about BETA’s eCTOL technology and what it means for the future of mobility in Utah:
We move people—and the things they need—using more than just roads. These demonstrations are more than just a technology showcase — they represent a fundamental shift in how we think about mobility. Utah’s population grows and we face increasing demands on our ground transportation system, we know that advanced air mobility offers innovative new solutions to address our evolving mobility needs.
The BETA ALIA can transport up to five passengers at a time or up to 1,250 pounds of cargo. Looking ahead, BETA and its new partners in Utah will align to establish a statewide electric charging network for both aircraft and electric vehicles, create pilot training programs, and develop a model to forecast flight operations.
The agreement with BETA is part of a broader effort from 47G to integrate advanced air mobility into Utah’s transportation sector by the 2034 Winter Olympic Games, which will be held in Salt Lake City. Chris Metts, 47G Project Alta Executive Director, also spoke:
By integrating cutting-edge electric aircraft into our mobility ecosystem, we are ensuring the highest standards of safety, advancing medical response capabilities and driving technological innovation that will create lasting benefits for communities across the state. Utah is attracting investment, accelerating the development of critical infrastructure and enabling the deployment of aircraft that make our transportation system safe and truly multimodal.
The Utah Department of Transportation posted video footage of the BETA eCTOL flight demonstrations; you can view it below:
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The Binance logo is seen displayed on a smartphone screen.
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Binance’s BNB token bucked the wider crypto downturn on Thursday, jumping 4% following a Wall Street Journal report that the Trump family has held talks to secure a financial interest in the U.S. arm of the world’s largest cryptocurrency exchange.
Such a deal would notably link the Trumps to a firm that pleaded guilty to breaking anti-money laundering laws in 2023.
According to the Journal, Binance first approached Trump allies last year, pitching a deal that could help the embattled exchange regain its footing in the U.S. At the same time, its founder, Changpeng Zhao — better known as CZ — has been angling for a presidential pardon after serving four months in prison for violating anti-money laundering laws.
A spokesperson for Binance.US said the company declined to comment.
Read more CNBC tech news
The structure of any potential Trump stake remains uncertain, but the Journal’s sources said one possibility being considered is routing it through World Liberty Financial, a crypto venture backed by the First Family. World Liberty funnels 75% of profits to Trump-related entities. It’s also unclear whether the arrangement is directly tied to a potential pardon for CZ.
The news comes as Binance fights to rebuild credibility after its $4.3 billion regulatory settlement. If a deal goes through, it could mark a dramatic comeback for Binance.US — just as Trump moves to roll back regulations that have weighed on the crypto industry.
Steve Witkoff, a real estate investor and longtime Trump associate now working as his top negotiator in the Middle East, has reportedly been involved in the talks, according to the Journal, citing unnamed sources familiar with the matter.
The White House did not immediately respond to a request for comment from CNBC.
Tesla is preparing to launch a couple of new more affordable electric vehicles and the first one is expected to basically be a stripped-down Model Y, according to a new report from China.
We have been reporting on this new vehicle program from Tesla for a while now.
It came to life just over a year ago as a pivot for Tesla after CEO Elon Musk canceled two cheaper vehicles that Tesla was working on, commonly referred as “the $25,000 Tesla”. Those vehicles were codenamed NV91 and NV92, and they were based on the new vehicle platform that Tesla is now reserving for the Cybercab.
Instead, Musk saw that Tesla’s Model 3 and Model Y production lines were starting to be underutilized as Tesla faced demand issues. Therefore, Tesla canceled the vehicles program based on the new platform and decided to build new vehicles on Model 3/Y platform using the same production lines.
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We previously reported that these electric vehicles will likely look very similar to Model 3 and Model Y.
Now, this is being confirmed by a new report coming from 36Kr, a Chinese tech media, about a new Model Y-based vehicle that Tesla is planning to produce at Gigafactory Shanghai. The vehicle is being described as a “lower-priced Model Y” (translated from Chinese):
People familiar with the matter told 36Kr that the new model is a “lower-priced Model Y”. Compared with the current Model Y, the new car’s battery, power and chassis have basically not changed much.
The report references the new version of the Model 3 that Tesla launched in Mexico last year. It’s a regular Model 3, but Tesla removed some features, like the second-row screen, ambient lighting strip, and it uses fabric interior material rather than Tesla’s usual vegan leather.
Starting at the equivalent of $35,000 USD in Mexico, it is about $4,000 cheaper than a regular Model 3.
The report references a “depop”, or more likely “decontent” approach, to the new Model Y-based vehicle:
“It is developed through depop.” People familiar with the matter revealed that depop is a development idea within Tesla, which is to achieve the rapid launch of products by simplifying the configuration while keeping the main functions unchanged.
It sounds similar to what Tesla did with the Model 3 in Mexico.
The 36Kr report has some credibility since its source references the change in codenames, which now use “letters and numbers,” previously reported by Electrek.
According to the report, Tesla is expected to launch the new vehicle in China in the second half of the year, depending on the popularity of the refreshed Model Y in China:
The launch time of these new models will depend on the order performance of the renewed Model Y. If the new Model Y does not perform as expected, Tesla is expected to launch this “cheaper Model Y” in the second half of this year.
The vehicle is also expected to launch in other markets since, as previously reported, Tesla’s Model 3 and Model Y production lines in the US and Germany are also currently being underutilized.
Electrek’s Take
Tesla investors shouldn’t hope for a silver bullet in those new models as they will likely greatly cannibalize Tesla’s existing Model 3/Y sales.
It explains why Tesla is waiting to launch them until it takes advantage of the demand bump from the refreshed Model Y.
I know I’ve been hammering on this for a while, but it was another critical management error from Elon Musk, who thought that Tesla didn’t need a $25,000 model based on the next-gen platform because “self-driving is just around the corner.”
That said, he is correcting a bit for his mistake by finding a way to fully utilize Tesla’s production lines, which have been operating below capacity for a while now.
But I would expect Tesla’s gross margins to tighten even more than they already have over the last two years.
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