A new decentralised energy exchange platform has been launched, allowing customers, communities and utilities to trade energy.
The deX platform, designed by GreenSync, is an open exchange where energy capacity can be transacted between businesses, households, communities and utilities. Like any marketplace, deX software facilitates an exchange between market participants, ensuring open access that is safe, reliable, simple and transparent.
deX brings distributed energy resources (DERs) online to deX participants, making them visible in the network and dispatchable when required. Agreements can be formed and capacity from DERs can be aggregated to provide wholesale, network and system wide services.
Green Sync CEO, Phil Blythe, said, “This is an opportunity born from our current energy crisis, deX provides a framework to increase customer value, improve system reliability and manage the transition to a renewable energy future.
“We are acknowledging that our energy ecosystem has changed and now we need to come together and re-work the system for everyone.
“I think the industry and the community have been waiting for this and it shows in the level of interest in just six months. We’ve taken all the feedback and we’re unveiling a model that works for everyone.”
The deX initiative will work with Energy Networks Australia on the development of national connection standards, as well as other industry organisations including the Clean Energy Council (CEC).
Energy Networks Australia Interim CEO, Andrew Dillon, said the transformation of our energy system requires innovative solutions to harness the benefits of new technologies.
“Networks could use these types of platforms to pay for the use of household solar and storage as an alternative to building poles and wires,” Mr Dillon said.
“The software also has the ability to provide networks with greater visibility of distributed energy resources to help manage the growing number of household solar and batteries connecting to the grid.”
In February 2017, funding for the deX concept was announced through the Australian Renewable Energy Agency (ARENA) following its initial development through A-Lab, the agency’s award-winning grid integration innovation lab.
ARENA CEO, Ivor Frischknecht, congratulated all involved in building the deX concept and is encouraged to see the first program coming to life out of A-Lab.
“As we head towards a renewable energy future, deX will become even more important in facilitating an energy network that will only become more complex in the way we buy and sell energy,” Mr Frischknecht said.
GreenSync has already secured four deX projects with its existing partners. In the coming months GreenSync will also announce additional projects and partners.