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GM plans to secure homes with EV chargers and energy storage

GM plans to secure homes with EV chargers and energy storage

October 12, 2022: -On Tuesday, General Motors said it is creating a unique business unit to offer stationary battery packs, solar boards, electric vehicle chargers, and other energy-management products for homes and companies.

The replacement unit, G.M. Energy, aims to build on the battery and software expertise that G.M. includes amassed in recent years to develop a new line of E.V. that will, in time, return its internal-combustion offerings.

G.M. Energy will offer outcomes and benefits for what the company calls “energy management,” including hardware such as batteries and solar panels, hydrogen fuel cells, and cloud-based software that can link these offerings with electric cars and utility businesses. The products, some of which will be provided by partners, can be tailored for individual homeowners and businesses, including companies operating fleets of electric vehicles.

Commercial operations are already underway, while home energy systems will be open starting in the coming year as the 2024 Chevrolet Silverado E.V. runs on sale.

The goal of G.M. Energy is twofold: assist the automaker in controlling the customer experience when they purchase a new E.V. and create a sustainable business as G.M. tries to double annual revenue to $280 billion by the future of this decade.

Travis Hester, vice president of G.M.’s E.V. growth operations, said the new business unit offers clients and energy grids “resiliency.”

“If you have a sudden spontaneous power outage, then you can use your vehicle or your stationary storage box to power your home or small business,” he said. And the batteries can feed energy back into a regional power grid during a heat wave or other event.

G.M. isn’t the first in this space. Most notably, Tesla has offered charging, solar, and energy hold for several years. There are also more traditional competitors, such as Generac. Ford Motor is also entering the space.

According to Hester, the total addressable market of products and services targeted by G.M. Energy is between $125 billion and $250 billion. He said that growing problems with the U.S. power grid make this a timely offering.

Hester said that G.M. Energy has already signed up a series of partners to help it deliver products and benefits and integrate its offerings into the grid. Those members have solar giant SunPower, which will install G.M.’s home systems and supply solar panels, and regional utility companies, including Pacific Gas and Electric and Con Edison.


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GM plans to secure homes with EV chargers and energy storage