Deakin University's 300-Person Virtual Energy Network Trial Reduces Electricity Costs

en.Wedoany.com Reported - Deakin University has conducted a large-scale randomized controlled trial in Victoria, testing a Virtual Energy Network (VEN) that enables households and small businesses to buy and sell solar and battery electricity through a digital platform.

This research, led by the Deakin Business School and funded by Energy Consumers Australia, aims to explore how households and small businesses can directly sell excess solar or battery-stored electricity to others via a digital platform.

300 participants from Queensland, New South Wales (NSW), Victoria, and South Australia (SA) took part in the trial as both buyers and sellers. They traded electricity at mutually agreed prices, which kept rates below standard tariffs and provided a pathway to clean power for consumers unable to install solar panels. Among the 300 participants, 100 did not have rooftop solar or batteries.

Dr. Andrea La Nauze, Associate Professor of Economics at Deakin University, stated that the project offers a potential blueprint for building a more inclusive and flexible energy system in Australia. La Nauze noted that helping more people benefit from solar and battery power is crucial to supporting Australia's successful net-zero transition. The VEN allows solar owners to decide where their excess electricity goes and at what price, while also demonstrating how more Australians who cannot install their own panels can access clean energy. La Nauze believes this research is an important step in leveraging distributed energy resources for the benefit of all Australians.

The virtual energy network is supported by Energy Locals, with transactions managed through Enosi's Powertracer software. Project funding comes from Energy Consumers Australia's grant program, delivered in partnership with QuantumNRG, ReThink Sustainability, and WinZero.

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