Why My Energy Company Pays Me For Running A Bitcoin Miner At Home

In the figure below, you can see how the air conditioning hardly runs throughout the peak occasions: Source: Author screenshotThe addition of a Tesla solar with Powerwall battery backups allows for further optimization with net metering billing (net metering takes into account the power used from the grid, minus the power provided to the grid). In the Tesla app, I can set up these settings and it will instantly push/pull from sources to optimize power savings.Source: Author screenshotEssentially, I take in as much power as required throughout off-peak times, then throughout peak times, batteries supply the home with all power needs (up to 10 constant kilowatts with 2 Powerwall batteries), while all solar energy produced goes back into the grid.As you can see from the screenshots of my Tesla app for June 7, 2022 above, power is consumed from the grid during off-peak times, while solar energy charges my batteries. During the peak event, the batteries power my home energy load while all solar power is redirected into the grid and sold for the highest-possible rate.Effectively, my home acts as a small power plant during peak times and an energy customer throughout off-peak times.This has the result of providing the energy service provider what they want: more power supply during peak intake times, and more power intake during off-peak times. It likewise works out for my benefit as I am able to consume only low cost power, while getting credited for all power supplied throughout peak events at the greater rate of $0.28 per kWh.In the example of this one day, we can break it down as follows (assuming only net usage for comparison): Non TOU rate: 98.4 kWh at $0.11 per kwh = $10.82 TOU Net Metering: 111.3 kWh at $0.06 per kWh – 12.9 kWh at $0.28/ kwh = $6.68 – $3.61 = $3.07 Effective rate: $3.07/ 98.4 kWh = $0.03 per kWhAs we can see, a considerable expense benefit to me as a customer. Once power companies have the capability to dynamically user interface with miners to immediately scale back demand, new rate structures can be implemented to take benefit of this scenario.Even without a solar and battery backup system installed, a small-scale miner might use dynamic power scaling to scale back mining during peak events, and scale up mining throughout off-peak occasions.

In the Tesla app, I can set up these settings and it will immediately push/pull from sources to optimize power savings.Source: Author screenshotEssentially, I consume as much power as required throughout off-peak times, then throughout peak times, batteries supply the home with all power requirements (up to 10 constant kilowatts with two Powerwall batteries), while all solar energy produced goes back into the grid.As you can see from the screenshots of my Tesla app for June 7, 2022 above, power is taken in from the grid throughout off-peak times, while solar energy charges my batteries. Throughout the peak occasion, the batteries power my home energy load while all solar power is rerouted into the grid and offered for the highest-possible rate.Effectively, my home acts as a small power plant throughout peak times and an energy consumer throughout off-peak times.This has the impact of providing the utility service provider what they desire: more power supply throughout peak consumption times, and more power intake during off-peak times. As soon as power companies have the ability to dynamically interface with miners to quickly scale back demand, brand-new rate structures can be executed to take benefit of this scenario.Even without a solar and battery backup system set up, a small miner could utilize dynamic power scaling to scale back mining during peak occasions, and scale up mining during off-peak events.