Peak-Time Payback Program
Get paid to help minimize strain on the electric grid and keep electric rates down!
Peak-Time Payback is a demand response program that allows members to earn money for decreasing energy consumption during peak demand periods (or Peak-Times) with their eligible Nest® or ecobee thermostat. Once enrolled, your thermostat will notify you of any upcoming Peak-Time events and then automatically adjust the temperature to reduce the overall demand on the electric grid when it’s expected to be at its highest.
Peak-Time Payback Program FAQ’s:
What is a demand response program and why is it valuable?
Demand response programs help lower the overall demand for electricity during peak times (days/hours the highest levels of energy use occur).
The more GVEC can lower its demand during seasonal peaks, the more GVEC will save on transmission costs—plus reduce strain on the power grid. This translates to more stable Generation & Transmission rates for our members, which are the wholesale power costs passed through with no markup on their monthly bill.
What thermostats qualify for participation in the Peak-Time Payback program?
The following thermostat models are eligible:
- ecobee3 lite
- ecobee SmartThermostat with voice control
- Nest Thermostat E®
- Nest Learning Thermostat® (generations 1, 2, 3)
*The models listed are compatible with GVEC’s Peak-Time Payback program, however not all thermostats may be compatible with every HVAC system. Be sure to check the manufacturer’s website or instructions for compatibility before purchasing a new thermostat, or ask the professionals at GVEC Home®. GVEC Home® sells and installs Nest and ecobee thermostats!
What kind of rewards can I expect through this program?
GVEC will give members a one-time $85 bill credit for signing up and another $30 for each year they’re enrolled through September 30 of that year. (Example: To receive the current year’s $30 credit, you must be enrolled in the program by May 31 through September 30 of the current year.)
Members can receive Peak-Time Payback credits for all qualifying thermostats, including multiple enrolled thermostats at a single location.
How do Peak-Time events work?
- GVEC will predict a large rise in demand for electricity caused by extreme weather, then schedule a Peak-Time event.
- Enrolled members will receive a message on the thermostat and from their thermostat app detailing what time the upcoming event will start and end.
- GVEC will issue instructions to your thermostat, lowering the temperature to precool your home in the hours leading up to the event.
- The temperature will be raised during the peak demand period, helping to lessen the amount of strain on the statewide electricity grid.
- The thermostat will not be adjusted more than two degrees Fahrenheit.
Note: The member maintains the ability to manually adjust their thermostat at any time during the event.
When the Peak-Time event is over, the thermostat will return to its regular schedule.
How often do Peak-Time events happen?
Peak-Times typically happen on very hot summer days when most people’s air conditioning units are trying to keep their homes and businesses cool. Members can expect to see no more than 25 events from June-September, but this number will depend on overall weather patterns for the season. Members shouldn’t expect more than one Peak-Time event per day.
Am I eligible to enroll in Peak-Time Payback?
To enroll in the Peak-Time Payback program you must:
- Have central air conditioning that is controlled by an eligible programmable thermostat
- Have Wi-Fi
- Register your device for the program (instructions coming soon)
- Be a GVEC member
- Have a valid GVEC account that’s in good standing
How do I enroll in Peak-Time Payback?
To enroll a Nest Thermostat:
Go to Settings > Rebates and Rewards in your Nest App and follow the steps to enroll
To enroll an ecobee Thermostat:
Activate eco+ inside your ecobee app and follow the steps to enroll. Select the GVEC Peak-Time Payback program in the app.
For more information visit: https://www.ecobee.com/en-us/eco-plus/
By enrolling in the Peak-Time Payback Program, you are agreeing to GVEC’s Terms and Conditions.
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