World’s largest ‘Virtual Power Plant’ to lower energy bills by 30%
The State Government has unveiled a plan to roll out a network of at least 50,000 home solar and battery systems across South Australia, working together to form the world’s largest Virtual Power Plant.
Beginning with a trial of 1100 Housing Trust properties, a 5kW solar panel system and 13.5kWh Tesla Powerwall 2 battery will be installed at no charge to the household and financed through the sale of electricity.
Following the trial, which has now commenced, systems are set to be installed at a further 24,000 Housing Trust properties, and then a similar deal offered to all South Australian households, with a plan for at least 50,000 households to participate over the next four years.
A registration of interest is open for members of the public who wish to participate in the program.
The Government has released a market notice for a retailer to deliver the program, with a preference of bringing more competition into the market.
Analysis by Frontier Economics shows the 250MW plant is expected to lower energy bills for participating households by 30 per cent.
Additionally, all South Australians will also benefit from the increased generation in the South Australian energy mix, with lower energy prices and increased energy stability.
The State Government is assisting the rollout with a $2million grant and $30million loan from the Renewable Technology Fund.