Press Release: 1 July 2020
As the Federal Government announces gas as a core pillar of its post-COVID-19 economic strategy, DC Power Co and Redback Technologies have joined forces to put forward a clean, renewable energy alternative for households to invest in: home solar and batteries.
The Australian-designed solar and battery package offers households the opportunity for greater independence at a time they’re signalling they want more self-reliance and control – whether it be through planting their own veggies or DIY home improvements.
“Australians quite rightly want to reduce household costs in this time of uncertainty, which is evidenced by a 35% boost in solar installations in the first half of this year compared to last,” DC Power Co Co-founder and Executive Chair, Nic Frances Gilley says.
“But nobody tells you that with just solar panels, an average home sells around three quarters of their solar power back to the grid for as little as a third of the price they pay for electricity. With a battery, that same home can save 80% – and sometimes more – on their energy bill by using their stored solar power later in the day.”
More and more Australians are flocking to battery technology, with almost 23,000 installations last year according to the Sunwiz 2020 Battery Report. DC Power Co and Redback Technologies’ homegrown solution promises consumers leading Aussie technology, with no tricky discounts or pressure sales tactics.
“In an industry that often breeds confusion, we’re working with DC Power Co, who have a reputation for building trust with customers through greater transparency around pricing and product performance,” Redback Technologies CEO, Patrick Matweew says.
“There’s a lot of misinformation out there about how financially sensible it is to get a solar battery, but a mid-sized system with solar panels can pay for itself in 7 years* – and that’s without any state government rebates that may exist.”
DC Power Co has worked with Redback Technologies to build an experienced, trained and customer service focussed local installer network to install the systems. And with 150 estimates provided in the first week since launch in NSW alone, consumers are showing their interest in a renewable future that empowers them.
In the next five years, the Australian Energy Market Operator (AEMO) expects many home solar batteries to be aggregated and used for electricity price hedging by energy retailers, acting similarly to big generators like coal-fired power stations or wind farms. This capability is built into Redback’s technology should buyers wish to join such a scheme. But, unlike many other offers currently in the market, being part of such a scheme is not required to get a compelling price on the battery system.
The package is currently available in NSW, and will be launched in Queensland mid July. Other states will be added over the next few months as the installer network is expanded.
About Redback Technologies
Redback Technologies is a Brisbane-based, clean-tech startup that manufactures and distributes smart solar storage solutions throughout Australia and New Zealand. Founded in 2015 by renewable energy veterans, Redback’s management has over a century of experience in renewable energy generation, engineering, manufacturing, software development and energy market regulation.
*With a 6.6kW solar power system and a 4.8 kWh battery priced at $12,550, you could save an estimated $2000 per year. Estimated savings are based on solar generation of 1300kWh per kW per year, and using a weighted average value of that generation at 20c per kWh (combination of exports and offsetting electricity purchasing). Battery cost savings are based on a depth of discharge of 90% of the battery and an assumption that the battery will be filled 90% of cycles (one cycle per day). This is a so-called simple payback and does not take into account any increases in electricity prices, fluctuations in feed-in tariffs, degradation of solar panels or batteries.
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