Shell Enters US Residential Power Market

• Shell acquired MP2 Energy's residential business has been rebranded as Shell Energy Solutions in the US
• It will offer 100% renewable electricity plans to eligible customers in Texas on the ERCOT grid
• Under Solar Buyback Plan, homeowners selling excess power to the grid through their solar panels will be credited by Shell for the same thereby helping them offset their electricity usage, it says

Shell has rebranded the residential business of MP2 Energy it acquired through Shell Energy North America as Shell Energy Solutions. This marks the official entry into the residential power market of the US offering 100% renewable electricity plans to eligible customers in Texas.

"Shell Energy's launch in the U.S. is another step in Shell's development of a material integrated power business, in-line with Shell's strategy to become a net-zero emissions energy business by 2050," stated the company.

It adds that the 100% renewable electricity plans are offered in the 'competitive areas' of the Energy Reliability Council of Texas (ERCOT) grid that supplies power to over 26 million consumers.

The company's offerings include a 100% Renewable Electricity Plan that's backed by Renewable Energy Certificates (REC), Electric Vehicle Charging Plan and Solar Buyback Plan. Homeowners with solar panels when they feed excess power to the grid will be eligible for the Solar Buyback Plan.

"Any excess electricity that customers' solar panels produce will offset their electricity usage, and Shell Energy Solutions will credit them for this extra power," it explains.

The company aims to sell over 560 TWh of power annually by 2030 as it targets to become a net-zero emissions energy business by 2050.