StockNews.AI
GM
StockNews.AI
159 days

GM and PG&E Paving the Way to Turn Electric Vehicles into Home Energy Assets

1. GM joins PG&E's Vehicle-to-Everything pilot program in California. 2. Eligible customers can receive up to $4,500 in incentives for GM Energy products. 3. Bidirectional charging technology enhances grid resiliency by allowing EVs to supply power. 4. Participating customers can potentially lower overall EV ownership costs. 5. GM expects to add more EV models to the program soon.

6m saved
Insight
Article

FAQ

Why Bullish?

Engaging in utility partnerships showcases GM's innovation in energy solutions, potentially boosting sales. Historical trends show consumer interest in EV functionalities influences stock prices positively.

How important is it?

The expansion of GM's EV capabilities directly relates to market competitiveness and consumer adoption. The partnership with PG&E could drive increased enthusiasm around GM’s EVs.

Why Long Term?

Ongoing involvement in innovative projects like V2H technology can shape GM's brand and market position. Sustainable energy solutions are critical for future EV adoption.

Related Companies

TSLAFPCGXPEV
, /PRNewswire/ -- General Motors has joined Pacific Gas & Electric Company's (PG&E) residential Vehicle-to-Everything pilot program, providing eligible customers in Northern and Central California with incentivized pricing for qualifying GM Energy home energy products. Paving the Way to Turn Electric Vehicles into Home Energy Assets GM Energy is working with utilities like PG&E to leverage GM's bidirectional EV charging technology, which allows compatible GM EVs to supply power back to homes during outages and, in the future, can support the grid by helping balance energy demand, with the goal of ultimately helping improve overall grid resiliency. Customers enrolled in PG&E's residential Vehicle-to-Everything pilot program can receive up to $4,500 in incentives off the price of qualifying GM Energy home products that enable bidirectional charging, such as the GM Energy V2H Bundle or Home System. Customers may also be eligible for additional incentives by participating in planned backup power events and by maintaining enrollment through the end of the pilot program. "For Northern California customers looking to take more control of their home energy, this program with PG&E represents a great opportunity," said GM Energy Vice President Wade Sheffer. "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."Charging data from the program will help PG&E and GM Energy evaluate the potential for bidirectional technology to provide value to customers and supporting grid resiliency, and to help scale bidirectional technology programs in California."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," said Mike Delaney, Vice President, Utility Partnerships and Innovation, PG&E. "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." GM EVs eligible for the program at the time of launch include the 2024 Chevrolet Silverado EV, 2024 Chevrolet Equinox EV, 2024 Chevrolet Blazer EV, 2024 Cadillac Lyriq EV, 2024 GMC Sierra, and 2025 Cadillac Lyriq EV. GM anticipates adding all model year 2025 EVs to the pilot program soon.To learn more about the pilot program or how to enroll, please visit GM Energy Enrollment Portal.About GMGeneral Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM's Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry's widest range of EVs, as we move to an all-electric future. Learn more at GM.com.About PG&EPacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE: PCG), is a combined natural gas and electric utility serving more than sixteen million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news  SOURCE Pacific Gas and Electric Company WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News