EV owners can benefit electricity price fluctuations with tado° Smart Charging

Today German provider of energy management solutions for residential buildings tado° launched tado° Smart Charging, for home charging stations. 

The app takes advantage of volatile electricity exchange prices. It automatically schedules home charging when energy prices are low, regardless of when the electric car is connected to the wallbox. 

In most households, 80 to 90% of energy consumption is for space heating and charging electric cars. The expansion of renewable energy sources (especially solar and wind) makes electricity prices increasingly volatile. A surplus during particularly sunny and windy hours can even result in negative prices.
 
Hourly dynamic electricity tariffs, which pass on prices directly and transparently from the European Energy Exchange, allow consumers to benefit from these fluctuating electricity prices.

Automatic energy management solutions for heat pumps, electric cars and air conditioning systems take full advantage of the varying prices of hourly dynamic electricity tariffs, working intelligently and in the background, without customers compromising their level of comfort.

 As a result, customers substantially cut their annual energy costs while also helping to prevent green electricity from wind and solar power plants from going to waste.

Using tado° Smart Charging, households can save an average of €300 (30%) on annual charging costs for electric vehicles while also maximising the share of renewables in their energy consumption.  

How the tado° Smart Charging app works

After connecting the vehicle to the app and setting charging preferences, an algorithm automatically schedules the charging process and shifts energy consumption to the greenest and cheapest times based on electricity prices over the next 24 hours. 

The tado° Smart Charging app can charge most electric vehicles from most major brands, although some require installing and connecting a compatible smart wallbox.

 Founded in Munich in 2011, with 200 employees, the company also manufactures smart thermostats for heating and air conditioning systems, mobile consumer applications, and SaaS products for utility and heating service companies.

The company has raised $217.5 million in funding, most recently raising €12 million in April this year.

Header image: tado°charging app supplied by tado°