|13 July 2016|
Businesses and households in Australia will be encouraged to use pioneering new power management software designed to make the switch to renewable energy more attractive.
Silicon Valley start-up – Geli – a leading supplier of design, automation, and management software for the energy storage industry is to establish a hub in Australia thanks to a US$3 million investment package. The Southern Cross Renewable Energy Venture Capital Fund is making the investment, backed by the Australian Renewable Energy Agency (ARENA) and Softbank China Venture Capital.
Adding energy storage managed by Geli software to a solar PV system provides the ability to store and dispatch energy when it is needed most, such as at night or during periods of peak customer demand. Traditionally strong solar markets such as Australia and Hawaii have grid compensation (or feed in tariff) policies that now favour the use of Geli’s platform.
Acting ARENA CEO Ian Kay said that as battery storage became more prolific in Australia, effective software tools would become increasingly important.
“There is an abundance of unused space on office, warehouse and factory rooftops around Australia where new solar panels could be installed. Many companies have also already invested in solar, and would benefit from adding storage,” Mr Kay said.
“Geli’s solution will give customers more value from their solar and storage systems, and could present a compelling case for more Australian businesses to invest in renewable energy.”