The Australian energy market will undergo a significant transformation with the launch of the Decentralised Energy Exchange — “deX” — a revolutionary digital marketplace that changes the way energy is produced, traded and consumed at a local level in Australia.
Funded by the Australian Renewable Energy Agency (ARENA) and led by energy tech startup GreenSync, deX brings together the expertise of two network operators (United Energy and ActewAGL), two leading energy startups (GreenSync and Reposit Power), a new energy retailer (Mojo Power), as well as ARENA.
The deX exchange will, for the first time, create an open marketplace for the value of energy generated by solar panels and stored in battery packs to be traded between consumers, businesses, communities and network utilities.
Currently, resources like rooftop solar panels and battery storage units are unable to actively participate in energy markets and contribute to maintaining the reliability of our grid. Coordinating and trading decentralised renewable energy has the potential to circumvent the so-called ‘trade off’ between reliability, stability and cost associated with high renewable adoption in the energy mix.
In practical terms, deX will allow households and businesses generating renewable energy to access incentives and reduce their demand on the grid by utilising technologies, like battery storage, during peak events.