Genius Energy is building a number of solar farm projects in Australia, with the aim of allowing households and small investors to be both consumers and generators. By owning a piece of solar generation and battery storage capacity, these energy users can control their energy future.
Genius Energy is currently developing enough generation and battery storage capacity to power over 120,000 homes and businesses.
What is different about Genius Energy?
The Australian energy market has not been friendly to the widespread adoption of solar energy. Existing generators are entrenched and well-positioned to out-compete newcomers. Enterprise-scale investors are typically unwilling to invest for the time-scale required. Individual investments at the residential level are inhibited by lack of roof access and need for mobility. Only 25% of households are realistic candidates for rooftop panels.
The change has come in the form of a group of determined small investors who are both generators and consumers of energy.
Generation capacity is sold by the kilowatt unit and costs about the same as a roof installation. That upfront investment guarantees energy capacity for 25 years and can be resold like any asset. The energy generated is owned by the investor, who can either use it at any selected location, or sell via the Genius trading platform. Generators who sell all of their energy via the tool can expect a return of around 15% on their investment. Energy consumers pay only the transmission fee.
Because Genius Energy will have batteries to store the power, it can be sold at the most favourable times of day. This means that Genius Energy will usually get better prices than generators who are forced to sell at the same time of day as the power is generated.
Unlike a rooftop installation, both the technology and the business functions can be set and forget. Of course it is an app, so owners can monitor activity in real time.
Consumers now have a realistic alternative to fossil fuel generation that is:
100% Australian | 100% Renewable | 100% Smarter