Australia Shaping The Future of Renewable Funding

According to Oil Price, Australia is following the crowdsourcing trend that has shaped the last half decade, pioneering the movement into a new industry which is solar energy. As of last week, approximately 10,000 Australian homeowners can engage in a program that will test an open market designed for the monetization of rooftop renewable energy and storage which is a first in the world.

This idea came from a group of energy agencies, startups, retailers and providers. There’s about 1.6 million Australians who own rooftop solar energy systems, which provides the needed infrastructure to build a system like this. This is more than 15% of all roofs in Australia.

The Distributed Energy Exchange of deX was created. The exchange allows solar panels owners and users to rent their excess energy and the storage capacity of their batteries. The system management is also an innovation because it utilises a network of smart devices to monitor the power distribution, automatically sending power where it is needed and compensating the owners accordingly.

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