GM And PG&E Team Up To Let EVs Power Homes, Offer Up To $4,500 In Energy Incentives

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GM joins PG&E’s EV pilot, offering up to $4,500 in incentives for home energy products with bidirectional charging tech.
GM EVs can now power homes during outages, with plans to support grid balance as part of PG&E’s energy pilot program.
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General Motors Co GM has joined Pacific Gas & Electric Co’s PCG residential Vehicle-to-Everything pilot program, the companies announced on Thursday.

Under the deal, they offer eligible Northern and Central California customers incentivized pricing for qualifying General Motors Energy home energy products.

General Motors Energy is working with utilities like Pacific Gas & Electric (PG&E) to leverage GM’s bidirectional EV charging technology.

Also Read: Tesla Loses Ground in US EV Market While Rivals Accelerate Ahead in January: Report

This technology allows compatible General Motors EVs to supply power back to homes during outages and, in the future, can support the grid by helping balance energy demand.

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 General Motors Energy home products that enable bidirectional charging.

Customers may also be eligible for additional incentives.

General Motors 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 expects to add all model year 2025 EVs to the pilot program soon.

General Motors reported fourth-quarter sales of $47.70 billion (+11%), topping the analyst consensus estimate of $43.61 billion. The adjusted earnings per share of $1.92 in the fourth quarter beat the street view of $1.86. Wedbush’s Daniel Ives noted that the company has strong momentum heading into 2025 despite uncertainty around EV tax credits.

Recently, the Department of Energy disclosed plans to provide Pacific Gas & Electric with a $15 billion loan guarantee to strengthen its electrical grid. Pacific Gas & Electric raised its five-year capital investment plan by $1 billion, bringing the total to $63 billion for the 2024-2028 period.

Price Actions: GM stock is down 0.77% at $47.53 premarket at last check Thursday. PCG is up 1.48%.

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