With the increasing popularity of electric vehicles and the convenience of charging them at home, homeowners are becoming more interested in finding ways to save on their energy bills. One area that has garnered attention is optimizing energy usage within the home. Among the strategies associated with energy management, peak shaving and load shifting have gained prominence. These concepts, although originally used in industrial settings, can be applied on a smaller scale in residential homes. In this article, we will explore the concepts of peak shaving and load shifting from a homeowner’s perspective, without overwhelming you with technical jargon. We will explain how these strategies can help homeowners efficiently manage their energy consumption and ultimately reduce their electricity costs.
Understanding Load Shifting
Load shifting is an energy management strategy that involves shifting energy consumption to off-peak hours. By taking advantage of cheaper electricity rates during these times, homeowners can schedule tasks like EV charging and appliance use to more cost-efficient hours. Some provinces, such as Ontario and BC, offer TOU plans like Toronto Hydro’s Ultra-Low Overnight Plan and BC Hydro’s proposed Time-of-Use (TOU) plan. These plans provide opportunities for homeowners to further reduce their electricity costs. To learn more about these plans and their benefits, you can refer to our previous blog on electricity price plans https://pionpowertech.com/electricity-price-plan/
and visit https://pionpowertech.com/bc-hydros-new-proposed-residential-electricity-rate-what-you-need-to-know/ for details on BC Hydro’s proposed plan. By combining load shifting with these pricing options, homeowners can optimize their energy usage and achieve significant savings on their electricity bills.
Exploring Peak Shaving
Similar to load shifting, peak shaving is an energy management strategy that aims to avoid peaks in demand. Rather than shifting the load to different times, peak shaving reduces the load on the grid by either quickly turning off equipment with high energy draw or by adding a local source of energy to balance the peak in demand. Historically, peak shaving has been primarily used by large industrial and commercial power users. However, with the increasing adoption of solar panels and home battery storage, households can now utilize stored renewable energy or even their EV’s battery to shave peaks in their energy demand.
Optimizing energy usage through strategies like peak shaving and load shifting has become crucial for homeowners looking to reduce their electricity costs. By taking advantage of off-peak hours and lower-priced electricity plans, such as Toronto Hydro’s Ultra-Low Overnight Plan and BC Hydro’s proposed Time-of-Use (TOU) plan, homeowners can further enhance their savings. For example, with the Ontario Ultra-Low Overnight Plan that offers lower rates starting at 9 PM, homeowners can use their home battery storage system to avoid using expensive grid power during peak-rate hours. During the period from the end of peak hours to 9 PM, the battery can be charged using solar panels, ensuring that excess electricity is stored for later use. By tapping into the stored energy during the low-rate period, homeowners can power their electric vehicles or other devices without relying on expensive grid power, ultimately reducing their electricity bills.
Additionally, with the flexibility and convenience offered by Pion Power’s Flex-AC EV charger and its accompanying smart app. homeowners can easily schedule their charging sessions during low electricity rate periods for the entire week. This smart charging solution empowers homeowners to make informed decisions and maximize their cost savings while efficiently managing their EV charging needs.