The Australian Renewable Energy Agency (ARENA) today announced $445,000 funding for Reposit Power (Reposit) to trial an on-grid solar photovoltaic (PV) energy storage and trading system.
ARENA CEO Ivor Frischknecht said the new technology would allow consumers to gain more value from their rooftop solar PV installations.
“One in five Australian households now use solar power. This substantial rise has made it vital to find solutions to better manage how residential solar systems operate in our electricity grids,” Mr Frischknecht said.
“Reposit’s GridCredits system can control and store solar energy. This gives consumers access to their own power overnight and at peak times, reducing their demand on the grid.
“It also allows energy to be sold back into the grid by placing bids into the market, turning residential properties into micro power plants.
“Residential electricity storage allows network operators to manage demand more effectively by delivering stored power into the grid at peak times.
“Reposit’s technology will also help smooth out the variable delivery of solar energy, allowing more renewables to be connected to the grid.”
Mr Frischknecht said the system would be trialled at homes in the Australian Capital Territory to better understand how it will operate within the network.
“The Australian Energy Market Operator is in discussions with Reposit about the potential to install and operate its product on the National Electricity Market,” Mr Frischknecht said.
“Reposit is also working on commercialising the technology and conducting market research to better understand the needs of potential customers.
“These important steps will give the technology the best chance of becoming available to Australian consumers and increasing the potential of solar PV to contribute to Australia’s electricity supply.”
The $930,000 project is scheduled for completion in July 2015.
About Reposit Power
Reposit Power was co-founded by energy industry veteran Dean Spaccavento and computer scientist Lachlan Blackwell. They shared a vision for allowing consumers to trade their electricity while contributing to a safe and cost effective grid. Realising that storage would allow this vision to become a reality, they set about developing the technology.