A ground-breaking rooftop solar trading platform that cuts out the energy market middle man and allows consumers to buy and sell renewable power at prices negotiated among themselves has been launched across four Australian states.
The platform – which, among other things, provides access to solar for consumers otherwise unable to invest in the technology – was opened for registration on Thursday by upstart retailer Energy Locals, in partnership with solar trading software developer, Enosi.
Under the new partnership, customers can negotiate the sale of excess rooftop solar generation at rates individually agreed upon with their chosen buyers, in a way the two companies hope will take pressure off the grid and – for consumers – eradicate hidden fees.
As Enosi CEO Steve Hoy explains it, customers of Energy Locals will be able to trade with each other, set their own price – a maximum buy price, or a minimum sell price – and nominate a person or business they wish to sell to.
The buyer pays the grid tariff – which of course varies on different parts of the NEM – while the seller gets the price negotiated, which could range from zero, in the case of charitable or family solar donations, or might be slightly higher than the applicable solar export tariff.
For households with no one party nominated to buy their excess solar, they can trade into a pool of buyers, which is set up like a stock market, with maximum and minimum prices set every half hour, and trades are reconciled at the end of the month.