Reposit Power
December 15th, 2014Disclosure: I sell solar power systems in New Zealand.
Via: REneweconomy:
A Canberra-based company is to introduce new technology that it says could help turn electricity markets on their head – by allowing households to buy and sell electricity on the market.
The buying and selling of electricity has hitherto been the province of large or specialised companies such as electricity retailers. But Reposit Power says that homes and businesses can and should be able to trade electricity with the help of battery storage, and production facilities such as solar panels.
Reposit Power plans to install battery storage in six homes around Canberra to run a six-month pilot of its technology, known as GridCredits. The Australian Renewable Energy Agency is contributing $445,000 to the $900,000 project.
Reposit Power says GridCredits is a world-first energy storage program that will put consumers in the driving seat and will “transform the grid forever.”
Spokesman Luke Osborne says the technology will allow households to “buy low and sell high” – adding a new layer of possibilities to homes that have solar and storage. He says this will enable some households to virtually eradicate their bills and still remain connected to the grid by doing what the retailers do – maximising their earnings on the market.
“A lot of what retailers do is buying services from peaking power stations. Consumer with storage and solar panels can provide the same services themselves,” Osborne told RenewEconomy in an interview.
“What we are doing is when it makes sense – households can be a seller, and then buy electricity at a low price.”
