![]() ![]() Time-of-use electricity pricing is also a common option for commercial buildings, especially if tenants have flexibility in when they can use the most electricity. California is the first state to require everyone installing a solar panel system to switch to a TOU rate plan under their net metering 2.0 program. Many utility companies offering TOU rates allow you to opt into it as a residential customer, but this isn’t always the case. PG&E example of special TOU pricing for customers with electric vehicles Utilities offer TOU plans to reduce demand on the electric grid by motivating their customers to reduce electricity use during peak hours. These off-peak hours are usually at night but depend on your utility’s specific time-of-use rate plan. For example, you can schedule when you run a clothes dryer, start the dishwasher, or charge your electric car around these times of the day. If you have TOU rates, you can lower your electric bills by waiting for the cheapest time of day to use electricity. An example of one time-of-use rate schedule with Pacific Gas & Electric in California For example, on the East Coast, summer off-peak times might be from 6 pm to 2 am when temperatures are lower and fewer people need to cool their living space, creating less demand for electricity. When demand is lower, the cheapest electricity can be found during “off-peak” hours. Under TOU rate plans, your utility charges you more for electricity usage during afternoon “peak” hours when the electricity demand is higher, also known as peak demand. Your electric bill is based on a charge per kilowatt-hour (kWh), so you’re billed for actual electricity pulled from the grid. How to get the cheapest electricity with TOU billing.Can I change my habits to use electricity during off-peak hours?.When can I get cheap electricity with TOU rates?.What are the peak hours for electricity?.What electric rate plans does my utility offer?.Questions to ask before signing up for TOU electricity rates.Check out the EnergySage Marketplace to compare solar quotes. If you want to lower your electricity bill even more, you can go solar.To save money on your electric bill, be aware of when your electricity rates are cheapest and schedule your energy usage with your TOU rates in mind.Many power companies charge off-peak use rates during holidays and weekends.On and off-peak electricity hours are when utilities shift electricity prices based on demand.Under a TOU plan, you pay different prices for your electricity based on the time of day and year. ![]()
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