Government funds project to slash household power bills

Wednesday 7th February, 2018

A multi-million-dollar project backed by the Palaszczuk Government will help a Brisbane start-up to develop a tool that is set to slash power bills and create jobs for Queensland.

Innovation Minister Kate Jones said the Palaszczuk Government had committed to investing $4 million into the job-boosting project run by Redback Technologies and its partners Springfield Land Corporation, Microsoft, Energy Queensland and the University of Queensland.

“Redback Technologies is at the forefront of moves to make battery storage technology more affordable, with a system that will enable a reduction in energy costs for consumers and help to pump renewable energy into the grid,” she said.

“The $4 million Advance Queensland Platform Technology Program grant will lead to the development of a smart energy monitoring platform that will give customers the ability to instantly analyse and control energy consumption.”

“This technology helps people intelligently manage their power usage and cut their bills by identifying power-hungry devices and systems in their homes and businesses.

Minister for State Development Cameron Dick said Redback Technologies was one of eight companies investing over $200 million and generating more than 500 new jobs in Queensland through the $60 million Advance Queensland Industry Attraction Fund (AQIAF).

“Redback will employ up to a further 109 technical and professional staff at its University of Queensland St Lucia laboratory, adding to its existing workforce and through expanding its existing facility, which would see more jobs and opportunities trickle down through the local economy,” Mr Dick said.

“The company has the potential to shape the renewable energy market in Queensland and Australia through new technologies that align with the Queensland Government’s renewable energy targets.

“This operation will put Queensland further in the lead for energy research and development, building on our growing hub of research facilities and driving innovative solutions to market.”

Ms Jones said it was important for the State Government to support local technology companies doing great things.

“Funding projects like these is part of a wider Palaszczuk Government strategy to diversify Queensland’s economy,” she said.

“We’re investing $513 million in our Advance Queensland program to back industries that will support Queensland jobs in the future.

“Not only will this initiative create jobs, it will have a real impact on the lives of ordinary Queenslanders – helping them save on their household power bills.”

Redback managing director Philip Livingston said the smart power monitoring platform would enable home owners and businesses to understand and control their energy usage and will help networks to more efficiently manage the grid, allowing for increased penetration of renewables.

“The support of the Queensland government will enable Redback and our partners to create a platform ecosystem, using big data to drive better outcomes for energy users and energy businesses,” he said.

“This technology will benefit industries beyond energy.”

Energy Queensland Executive General Manager Asset Safety and Performance Peter Price said the project would ensure Energy Queensland continued to develop new technology solutions that would transform the existing network to an intelligent grid and deliver safer outcomes for customer.

“We are committed to working closely with Queensland communities and with innovative Queensland based partners as a key part of our strategy to ensure that we deliver the reliable services our customers expect and also continue to enable global leading penetrations of rooftop PV and other renewable energy generators connected to our distribution networks,” he said.

Springfield City Group Executive General Manager Dr Richard Eden said the project had tremendous potential for consumers.

“Greater Springfield is driven strongly by innovation and how that can benefit not just our community but all Queenslanders,” Dr Eden said.

“This includes exciting developments in solar and storage.

“We are therefore delighted to be helping to lead the way with the Queensland government and other innovative partners in the energy sector”.

PTP is part of the Queensland Government’s $513 million Advance Queensland whole-of-government initiative, supporting jobs across a range of industry sectors.

For more information on PTP visit https://advance.qld.gov.au/industry/platform-technology-program.aspx.