You’d be hard pressed finding a solar householder that’s happy with their Solar Feed-In Tariff (FiT) these days. Most homeowners are getting paid somewhere between 3-6c/kWh for their surplus solar energy, while being charged anywhere from 30-50c/kWh for the power they buy from the grid.
The answer to this massive discrepancy? Battery storage that’s connected to a Virtual Power Plant (VPP).
By taking advantage of the Federal Government’s ‘Cheaper Home Batteries Program’ and connecting batteries to a VPP, households can boost the return on their investment to around 4-5 years.
We tend to steer clients towards VPP provider Amber, which works exclusively in the wholesale energy market. Amber charges a $25 monthly fee, but they pass on to you 100% of the full value of what energy is worth whenever there’s a grid price spike. When this happens, you get paid very generously for your stored solar energy (up to $19/kWh – not a typo).
Amber’s SmartShift software manages your battery for you (a bit like a stockbroker managing your money). The software can charge your batteries cheaply or for free and then discharge them when energy prices are extremely high. The AI-driven software identifies how much power your specific household typically consumes during peak energy consumption periods and leaves you with enough, so you’re not left short during these expensive periods. All this is done automatically, without you having to lift a finger. You can also override the software if you want to keep your stored power to yourselves (eg. there’s a storm coming in you want to make sure that in a blackout, you have plenty of stored energy).
By joining this type of scheme, you’re able to achieve a much faster payback on your battery, enabling you to convert your monthly power bill to a monthly credit.
If you want to join Amber and benefit from their SmartShift™ battery optimisation, best to do it via this page.
