The Australian Renewable Energy Agency (ARENA) provided $445,000 in funding for Reposit Power (Reposit) to trial an on-grid solar photovoltaic (PV) energy storage and trading system.
Australian start-up Reposit was co-founded by energy industry veteran Dean Spaccavento and computer scientist Lachlan Blackwell. Their new technology is set to allow consumers to gain more value from their rooftop solar PV installations.
In other words, households can make money from selling stored electricity into the wholesale power market through a partnership between Reposit and US electric car and battery supplier Tesla.
The integration of Reposit’s GridCredits technology with Tesla’s new home batteries will basically turn household energy consumers into generators.
Reposit plans to offer GridCredits to Australian consumers as a commercial product in late 2015.
“The GridCredits system works with battery storage to control and store energy. This can give consumers access to their own solar power overnight and at peak times, reducing their demand on the grid and allowing more solar to be used. It also allows energy to be sold back into the grid by placing bids into the market,” reads ARENA’s press release.
The intelligent GridCredits system has been designed to work with battery storage hardware and will be available with other batteries in addition to Tesla’s.
