Victorian households are effectively trading the energy of the sun in an innovative trial which allows them to save money or help others save on their electricity bills.
AGL General Manager Energy Management Nick Ruddock said 220 AGL customers in Victoria were participating in the AGL Solar Exchange trial, which started in August, by trading solar tokens that represent solar energy through a simple to use, online trading account.
“In addition to exporting surplus energy to the grid at their feed-in tariff (FiT), households that use less solar energy than they produce can sell tokens to family, friends and members of the community who don’t have solar panels,” Mr Ruddock said.
“They can sell the tokens for more than their FiT to maximise the savings on their electricity bills or sell for less than their FiT to help others save on their bills.
“The number of tokens households can buy depends on how much electricity they use, as measured by their digital meters.
“In this trial, currently the largest of its kind in Australia, buyers and sellers choose personalised settings for trading tokens on the AGL Solar Exchange platform, which matches buyers with sellers to complete compatible trades.
“Under the right conditions, a buyer could buy tokens at a lower price than buying energy from the grid, while a household with solar could sell excess solar tokens at a higher price than the solar Fit, and these trades would ultimately be reflected in the customer’s electricity bill.”
Mr Ruddock said creating the online marketplace was part of AGL’s commitment to making energy more affordable, giving customers more control and flexibility, and developing energy solutions for the smart home of the future including maximizing the value of rooftop solar and battery systems.
“The marketplace allows households to actively participate in buying and selling, engage with each other and their community, and get more value from their solar systems and batteries,” he said.
Customers must have digital meters and be AGL electricity customers to participate in the platform, which is available on desktop, tablet, and smartphone devices. For more information, go to: https://aglsolar.com.au/solar-exchange/
The trial has received a positive response from customers including Anirudh Baddam, who is enjoying the flexibility of deciding who benefits from the five kilowatt solar power system on the roof of his Melbourne home.
“AGL Solar Exchange means anybody can benefit from the goodness of solar without actually owning it,” he said.
“My attraction is to get more of a discount on my bills. But we also can help families and friends 'doing it tough' by reducing their bills.”
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have 3.6 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.