7 December 2018
Ausgrid’s Power2U project, which offers incentives to permanently reduce demand, has received a $1 million boost from the Australian Renewable Energy Agency (ARENA).
The Ausgrid-initiated program encourages customers to adopt distributed renewable energy and efficiency measures such as new solar power systems and LED lighting upgrades.
On behalf of the Australian Government, ARENA’s $1 million funding, together with Ausgrid’s funding and earlier support worth $750,000 from the City of Sydney, takes the total investment to $4.1 million.
Power2U is projected to reduce participating customers’ bills by about $5 million per year and reduce greenhouse emissions by 29,000 tonnes per year.
Sydney suburbs such as Bankstown, Alexandria, Condell Park, Glebe and Pyrmont are in line for access to the incentives targeted at reducing grid demand during the day. The program footprint has increased to about 15 suburbs in the Sydney area.
Ausgrid CEO Richard Gross said: Power2U is one-way customers can work with us to save money and reduce their emissions.
Reducing use of grid-supplied electricity can lead to lower costs to maintain the grid and lower electricity costs for all customers.
Richard Gross, CEO, Ausgrid
Innovation, and collaboration between networks and customers, is at the heart of securing the future of the electricity grid and to helping us make energy more affordable.
Ausgrid will be working will market providers to be announced in the near future.
ARENA CEO Darren Miller said the funding boost for the scheme would help reduce energy costs for participating customers, while also reducing demand to help avoid the need for network upgrades.
The project will provide Ausgrid and other distribution network service providers around Australia greater confidence in the ability of renewable and efficiency solutions to offset.
network expenditure, which has traditionally been very difficult to address with demand management.
“Ausgrid’s program will encourage greater uptake of low emission technologies and solutions, reduce energy costs for participating consumers and reduce demand on Sydney’s grid,” he said.
The City of Sydney previously provided $750,000 in its bid to reduce emissions in Sydney by 10,000 tonnes per year.
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This Project received funding from ARENA as part of ARENA's Advancing Renewables Program. The views expressed herein are not necessarily the views of the Australian Government, and the Australian Government does not accept responsibility for any information or advice contained herein.