EnergyAustralia invests AUD$9.3million in Redback Technologies to bring Australians smarter energy solutions
AUSTRALIA, Tuesday 4th October, 2016: Redback Technologies today announced a AUD$9.3 million investment in the company by leading energy retailer EnergyAustralia, establishing a partnership aimed at developing new technology to help Australians take control of their energy consumption.
Redback Technologies was chosen by EnergyAustralia for the investment due to the company’s hardware and software innovations, which provide homeowners with reliable, affordable and cleaner energy solutions.
Australians are transitioning to lower emission energy systems, with one in five homes around the country equipped with solar. The new partnership aims to bring the environmental and economic benefits of solar technology to many more homes in the coming months.
Under the partnership, EnergyAustralia will promote the Redback Generation 2 Smart Hybrid Solar Inverter System to its 1.7 million customers in Victoria, New South Wales, Queensland, the Australian Capital Territory and South Australia.
The solar inverter system is scalable, easy to install and offers a faster return on investment than other competitors in the market. It can be run from a smart phone and is also battery and solar panel agnostic, which means it works with existing systems.
Philip Livingston, Founder and Managing Director of Redback Technologies says the investment will allow Redback to continue developing smarter technologies.
“Our partnership with EnergyAustralia significantly accelerates Redback’s technology roadmap and strategic plan for leading the disruptive change required for mass adoption of renewables. Today marks a new day for the clean energy sector in Australia, and we at Redback could not be happier.”
Andrew Perry, EnergyAustralia Executive – NextGen, said the investment reflects the energy retailer’s commitment to giving consumers more control over their energy consumption in ways that help households save money and reduce carbon emissions.
“We know electricity costs are a concern for many households and the ability to manage consumption is a key to keeping bills low. With the Redback system the customer can make the most of the energy captured on their own roof tops – they decide if they want to use the energy right away, store that energy or even sell it to the electricity grid,” Perry said.
“As we’ve seen with solar systems, electric vehicles and battery storage, people are excited about technology that can help them manage their energy use, reduce carbon emissions and save money. EnergyAustralia’s partnership with Redback Technologies is about helping great Australian ideas and innovation get to market,” Perry said.
The inverter includes Redback’s cloud enabled intelligent system for analytics and remote control, the Ouija Board. Making use of the Internet of Things and technology gives homeowners and commercial users options through a smart device.
The technology uses machine learning to gather intelligence over time, learning from user preferences as well as drawing data from external factors like the weather.
“It is Redback’s mission to build infrastructure for the future grid, infrastructure that enables grid stability without reliance on centralised fossil generators. Democratising access to clean energy by shifting reliance to decentralised renewable generation, whereby allowing consumers to monitor, store and control their own solar energy assets as a means of ensuring power is there when they need it,” continued Livingston.
“Redback’s growth is creating significant employment opportunities for those in the science, technology, engineering and mathematics sectors. We are always on the lookout for thought leaders who are passionate about changing the world.”
Redback’s solar solution is hosted on Microsoft’s Azure IoT Suite cloud platform, ensuring easy updates and upgrades as the technology develops. It runs on a cloud-enabled intelligent system for analytics and remote control, so households can control when they use their energy such as during evening demand peaks.