So I signed up for one of these "dynamic" rate pricing plans with my electric company. They sent me an ecobee smart thermostat at no cost for doing so. Essentially,
I pay less than the standard rate at off peak hours (11p-7a) and weekends, equal to the standard rate at moderate hours (7a-3p, 7p-11p) and more than the standard rate at peak hours (3p-7p). In addition, they can occasionally call "critical" events on weekdays from 3p-7p where I would pay 10x the usual rate (95c per kwH), but they will notify me in advance.
Some research shows this saves the average person 10% in energy cost and >95% of customers pay less when on the plan. I generally get home from work around 6p during the week, but my A/C is currently set to come on at 5p remotely. I don't run much A/C though, honestly, as I set it to 78F and I live in a climate where we only get a handful of 90F+ days per year.
So....
Is there any downside to this I am missing?
Should I switch my A/C to not come on until 7p this summer? Or set it to cool the house before 3p?