ACT News

Canberra start-up Reposit Power's GridCredit technology rolled out with Tesla home batteries

Technology developed in Canberra will be at the heart of new batteries to power homes developed by electric car maker Tesla.

The GridCredits technology developed by Canberra start-up Reposit Power allows solar panel owners to automatically maximise their profits by selling power back to the grid at peak times and buying electricity when it's cheapest.

Reposit's chief operating officer Luke Osborne says the Canberra firm's technology will be the brains behind Tesla's new ...
Reposit's chief operating officer Luke Osborne says the Canberra firm's technology will be the brains behind Tesla's new batteries. Photo: Jamila Toderas

Reposit launched a pilot of the world-first technology in six households around the ACT last December and after its success is now looking at a wider spread roll-out, chief operating officer Luke Osborne said.

While GridCredits can be used by any type of solar panel system and a range of power storage solutions, the Tesla batteries are expected to be a more affordable option than existing batteries encouraging greater uptake.

The new Tesla Energy Powerwall Home Battery launched in Hawthorne, California on Friday.
The new Tesla Energy Powerwall Home Battery launched in Hawthorne, California on Friday. Photo: Reuters

"What we do is put some smart brains on that and allow it to interact with wholesale markets," Mr Osborne said.

"We want customers to be able to choose the best storage device and have a great user experience from us by trading in energy markets, buying low and selling high and supplying themselves in between."

The technology automatically decides whether to store energy in the battery during the day or sell it back to the grid at a profit.

When energy prices drop overnight and the system predicts low solar generation the following day GridCredits takes electricity from the grid to charge the batteries.

Users are able to see in real-time what energy is being consumed, stored or sold from their house by a mobile phone app.

Mr Osborne said "crude versions" of the technology controlling power sources exist in most storage solutions, but the GridCredits technology interacted with the wholesale market allowing householders to act as energy traders.

The Tesla device will be available in the US from around August, priced at approximately $4435 (AUD) for a 10kWh version, or $3800 (AUD) for a 7kWh version.

Mr Osborne said the battery was one of the lowest priced he had seen and an Australian roll-out was expected as early as October.

The GridCredits technology was built to transfer into other markets similar to Australia's national energy market including Texas and South Korea.

After the GridCredits' pilot wraps up in coming months, Mr Osborne said the company was hoping to begin a bigger roll-out of 50 to 100 units followed by general sales to the public.