The Australian Renewable Energy Agency (ARENA) was created by the previous Labour Government of Australia to provide affordable renewable energy solutions and increase renewable energy consumption in the country. Recently, the Australian Renewable Energy Agency CEO Ivor Frischknecht, announced their plan to invest $3.8 million on Sunverge Energy, a company that creates cost effective energy storage solutions so that users will have power when needed.
Australian Renewable Energy Agency and Sunverge Energy
Sunverge Energy works with various energy retailers that offer solar packages. Using their system, the Australian Renewable EnergyAgency sees a high potential for the increase in demand for solar technology. More and more people will want to use solar energy thereby increasing the supply of Australia’s renewable energy.
Sunverge Energy’s Solar Integration System (SIS) Release distributes the storage of renewable energy. Their system serves businesses, home owners, utilities and regulators of electricity. This US based company was founded in 2010 and have now expanded their reach to Australia and New Zealand, as well as some parts in Asia and Europe.
Sunverge CEO Ken Munson sees endless possibilities for such partnership. He believes that it validates the reality that energy storage distribution is going mainstream, and it’s rapidly growing. It’s a very exciting time in the renewable energy market, and will definitely pave the way for rapid expansion of the energy sector.
How It Benefits Homes
Solar storage systems offer lots of potential benefits. First of all, there will be growth in distributed energy storage since it can help save money on electricity bills. This explains the boom in solar PV systems in the last 5 years and with distributed energy storage, you can expect the demand to rise exponentially. In fact, it has been predicted that by 2021, there would be over 400,000 residential solar storage systems in Australian homes.
How It Benefits Businesses
The same benefits can apply to small and medium sized businesses as well. You can significantly save money on your electricity bills. Obviously the cost of installing solar panels needs to be taken into consideration along with the cost of acquiring energy storage systems. But such expenses will pay for themselves in the long run and besides, when you factor in the fact that you will have your own power source in case of outages, you’ll see just how convenient these storage solutions are.
When solar PV systems were introduced years ago, everyone thought it was the biggest game changer in the energy market. But now, with the globalization of distributed energy storage, we need to brace ourselves for an even bigger and better impact.
The Australian Renewable Energy Agency decision to invest on Sunverge Energy’s solar storage solutions through the Southern Cross Renewable Energy Fund certainly speaks volumes about the future of renewable energy. There’s an awful lot of benefits waiting to come out. Home owners, businesses and electricity companies should look forward to the future, as it is certainly looking bright. With the Australian renewable energy agency investment in solar storage systems, home owners and businesses can not only produce their own energy but also store it so they can use it any time they want. How amazing is that?