Reposit Power has launched GridCredits, a world first energy storage and trading system that allows households to compete head-to-head with energy companies and more than double the savings of an average solar power system.
Reposit Power’s Director, Luke Osborne, said: “For the first time in history customers will be able to store their renewable energy and trade it back to the grid at a real profit.”
“GridCredits is integrated into household energy storage systems and unlocks access to the energy trading markets that have traditionally been the sole preserve of large utilities.”
“Until now solar coupled with batteries has been considered the cure-all for rising household energy bills but we believe GridCredits is a far better solution.”
“It’s a very simple process; energy is stored in a battery when the price is low and an automated system will sell energy back to the grid when the price is high.”
“The system can also draw down cheap off-peak power from the grid to store in the battery overnight. This ensures households are getting the best available price for their power and reducing their energy bills.”
Mr Osborne said the GridCredits web app allows households to monitor their energy use and gives tips to generate more trading credits.
Reposit Power is rolling out 6 GridCredits enabled energy storage systems in the ACT area as part of its early adopter program. This program is supported by $445,000 in funding from the Australian Renewable Energy Agency (ARENA).
ARENA CEO, Ivor Frischknecht, said residential electricity storage can help smooth out the delivery of solar, allowing more renewables to be connected to the grid.
“Residential electricity storage allows network operators to manage demand more effectively by delivering stored power into the grid at peak times. ARENA is supporting Reposit to take these important next steps that will give its technology the best chance of becoming available to Australian consumers and increasing the potential of solar PV to contribute to Australia’s electricity supply.”
Reposit Power is currently accepting applications for these discounted systems. Residents in the Canberra region can find out more online. A national roll-out is scheduled for 2015.