13 July 2016
- Project Networks Renewed
A Silicon Valley startup is establishing a regional hub in Australia to offer power management software that could encourage more businesses and households to invest in renewable energy.
The Southern Cross Renewable Energy Venture Capital Fund has made a USD $3 million investment in Geli, backed by ARENA and Softbank China Venture Capital.
Geli’s software platform can bring energy storage together with different sources of electricity generation, operating them as efficiently as possible and achieving cost savings.
Acting ARENA CEO Ian Kay said that as battery storage became more prolific in Australia, effective software tools would become increasingly important.
“There is an abundance of unused space on office, warehouse and factory rooftops around Australia where new solar panels could be installed. Many companies have also already invested in solar, and would benefit from adding storage,” Mr Kay said.
“Geli’s solution will give customers more value from their solar and storage systems, and could present a compelling case for more Australian businesses to invest in renewable energy.”
Off-grid customers could also better manage their micro grids with smart software and install more renewable energy without compromising on reliability.