Image: Miner 4 Heat/Twitter
Tesla Solar and Powerwall became a power plant that helps a Nevada resident mine Bitcoin. The miner talked about how by using Tesla products you can optimize energy costs when mining Bitcoin from your home.
Southern Nevada-based Miner 4 Heat, shared his experience with Tesla energy products on Bitcoin mining in a Twitter thread. He explained that he uses local utility billing along with his Tesla Solar and Powerwall to optimize electricity costs while stabilizing the grid and taking advantage of this for Bitcoin mining.
A 🧵 on home #Bitcoin mining while using local utility Time Of Service billing and #Tesla solar + battery to optimize energy costs while stabilizing the grid.— Miner 4 Heat (@techengineer21) June 8, 2022
Essentially this is how to practice grid stabilization with dynamic power curtailment on a small scale..⬇️ pic.twitter.com/GXrT2s1lOt
In southern Nevada, energy consumption peaks on hot summer days. This forces residents to make intensive use of air conditioners in homes and businesses. Therefore, many utility locales have peculiar periods of peak demand that can be used to the advantage of miners.
To encourage off-peak power usage, the local utility is offering an opt-in power plan. Instead of paying 11 cents/kWh at any time throughout the year, the rate becomes 6 cents/kWh at all times except weekdays from 1 pm to 7 pm from June to September, where the rate is 36 cents/kWh. If you do not use solar energy, then you can set the automatic shutdown of the Bitcoin farm at peak times. Miner 4 Heat advised pre-cooling the house prior to power peak hours, then raising the A/C setpoint during peak to minimize A/C usage during peak. Thus, the house acts as an energy battery of cooled air.
The addition of the Tesla and Powerwall solar system provides further optimization with Net Metering billing. He wrote: “Net Metering = Power from Grid - Power to Grid.” So in combination with TOS, the utility company will pay Miner 4 Heat 22 cents/kWh for the electricity he feeds into the grid during peak hours. In the Tesla Solar application, he can configure all the necessary parameters, and it will automatically push/pull from sources to optimize power savings.
In fact, Miner 4 Heat consumes as much power as needed during off-peak periods, and then during peak periods, his two Powerwalls supply the home with all of its electricity needs, while all the generated solar power is returned to the grid. “Effectively, my house is a small power plant during peak times and an energy consumer during off-peak times,” concluded Miner 4 Heat.
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.