You have to check your rate tiers, and winter/summer pricing... For me (baseline) summer pk/ofpk is $0.29/$0.09 per kWhr--so if I am going to use the power anyways--as long as the total off-peak kWhr used is less than 3x the peak usage--I am (probably) saving money.
http://www.pge.com/tariffs/ERS.SHTML#ERS
If you are in the ~1,000 kWhr per month range, your prices are $0.48/$0.27 per kWhr (for in the ~600-900 kWhr/month range)... So, it is still a 2:1 offpk/peak advantage.
However, things get strange when you have solar and tiered rates... Before you do too much in over cooling before noon, and off afternoon (other than flat out conserving), check and understand your billing (you should get a detailed 3 page statement + your normal pg&e bill in a separate envelope)... If you are way positive during peak power, and way negative in off-peak power--PG&E can play some weird games with the baseline rate adjustments (as I have heard).
-Bill