A new property development in Kurnell (New South Wales) will connect 12 homes via their home battery power storage solutions turning these into a virtual power plant, whereby homes will have the unique ability to share power. This development is the first of its kind in Australia and outside of Europe.
These will use blockchain technology to share power between the homes in the development, expected to be completed in September 2018. Natural Solar is hoping this marks the future of property developments and shifting the capability and method in which Aussies power their homes.
While the concept sounds fine, it’s worthwhile remembering in most neighbourhoods these days, people barely know their neighbours or speak to them, let alone share power with them. Then of course there’s the challenge of ensuring everyone who buys in this development (now and in the future) is prepared to sign onto the deal. Traditionally the economics of a solar and battery installation is the responsibility of the home owner alone, but this changes everything.
CEO & Founder of Natural Solar, Chris Williams says,
“This technology that we have only seen utilised in this exact way in international markets unlocks a huge opportunity for Australians. In this instance, it’s not just the ability for homes to share power that is a huge drawcard for developers.
Costly grid and infrastructure upgrades required to provide power to this development of 12 properties meant an anticipated $250,000 price to ensure the grid could supply adequate power to both the new homes and existing homes.”
The actual installation cost has saved the developer $22,000 from day one, but also offers buyers a tangible asset for their property which will guarantee up to 20 years of $0 power bills and an annual estimated saving of $2,500 thanks to their new sonnenBatterie and challenger energy retailer plan sonnenFlat.”
This unique installation completed by Natural Solar will see each home have a 5kWp solar system and a 8kwh sonnenBatterie installed. Not only is there an initial saving from avoiding the grid upgrades, this installation is expected to save the homes in the development a minimum of $620,000 in power bills within the next two decades.
This development will reduce the volume of power drawn from the grid up to 90% per home, decreasing reliance on the grid. This initial development will act as a first Australian proof of concept, with many more developments of a similar size and scale expected to integrate solar and battery power from the build phases.
Mr Williams went on to say,
“Blockchain technology is now being explored around the world when it comes to home energy storage, and this is a trend we are seeing in property developments where this can be added into the infrastructure from the beginning. These are the first homes in Australia that connects blockchain technology coupled with battery power to produce a truly unique energy solution.
There is no doubt we are seeing strong consumer savings when homeowners move to battery power, and this will be a motivator for Australians. In the case of this development in Kurnell, with each property anticipated to have a valuation of $1.5M, we are also seeing savvy homeowners wanting to reap the benefits of savings from day one. It’s hugely powerful to know that from the day they move in, they will never have to pay for power again.
Through extensive modelling and innovation, Natural Solar has been able to unlock value through the aggregation of these solar and battery systems. It’s more than just adding a few panels to a rooftop; we now have the ability to create smart homes that are truly connected as they are joined together in a virtual power plant and creating a sizeable generator. This solution adds considerable asset value, but also means that neighbours can borrow more than a cup of sugar from their neighbours – they can now share power instead.