Octopus Energy, Lunar Energy partner to offer $0-down battery-based retail electric plan in Texas

Octopus Energy USA has introduced PowerStore, a new battery-powered retail electricity plan in the deregulated Texas market that allows homeowners to get a 30 kWh Lunar Energy battery system installed in their home under a 36-month fixed-rate subscription plan. 

The plan, which will require no down payment, offers an electricity cost of 8 cents per kWh (before distribution utility charges of 5 to 6 cents per kWh), with a $45 per month subscription charge for the battery. Following the initial agreement, customers will have the chance to continue the plan or own the battery themselves.

The per-kWh cost is similar to other Octopus Energy plans in Texas. For example, the company’s “Octo Simple 24” plan comes with a rate of between 7.5 and 7.7 cents per kWh in addition to the distribution utility charges.

All Octopus Energy plans in Texas are advertised as providing “100% green energy,” which the company says is backed by its purchase of renewable energy certificates (RECs) from 

The PowerStore plan is available to new and existing Octopus Energy customers in Texas now. The companies say the PowerStore plan will initially roll out to a limited number of customers.

“The focus for the first customers is on your standard, hard-working American family looking to reduce out-of-pocket costs,” said Lunar Energy VP of revenue Ed Gunn in comments to pv magazine USA. “This is a great option for them, because it’s no money down and very straightforward.”

Similar to other battery-backed retail energy plans in Texas, such as those offered by Base Power and Solrite, PowerStore will put Octopus energy in control of the battery, which it will use to provide grid services and optimize the use of energy in the home.

In the case of a storm that is likely to cause a power outage, the battery will be charged to full, but an Octopus Energy company spokesperson told pv magazine USA it can’t guarantee a minimum reserve level in case of an unexpected outage.

Gunn said installations will be handled by Lunar Energy’s existing channel partners in the state, and Octopus Energy 

The PowerStore plan is available to customers with existing solar installations. Octopus provides a list of six companies whose inverters can be connected to the system: Enphase, Growatt, Tesla, SolarEdge, Fronius and SMA. The Octopus Energy spokesperson said the company pays a solar buyback rate of 4 cents per kWh.

Octopus Energy is relatively new to the Texas market, having entered in 2020 – its first foray into the United States. Data from the U.S. Energy Information Administration shows the company had just over 16,000 customers in Texas at the end of 2024, the last year for which data was available.

However, the company operates internationally in the UK, Europe and Japan, boasting more than 10 million retail customers. A subsidiary, Octopus Energy Generation, recently announced a $1 billion investment in a California solar and battery project.

From pv magazine USA