Social Energy and SolaX team up for a FIT deal

Following on from Social Energy’s launch in Australia late last year, the UK company has teamed up with SolaX to offer a rather appetising feed-in-tariff deal to go with a combined solar and energy storage system.

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UK-based smart energy retailer Social Energy has partnered with SolaX to offer Australian customers a distinctive home green energy package. Indeed, Social Energy believes that its AI technology in combination with a solar and battery system could save customers $2,182 off their energy bill in the first year.

Some astute readers may remember when Social Energy launched in Australia in late 2019 with the help of the King of Spin himself, shareholder Shane Warne. Is there anything Warnie can’t do? If there is, I don’t want to know about it.

They key to the Social Energy saving is the offer of a 40c per kWh feed-in-tariff. A sum that high hasn’t been seen in Australia since the days when Kevin Rudd was in the news rather than talking about the news. Indeed, according to data from EnergyMadeEasy, the 40c mark is more than four times the average in New South Wales (7.67c per kWh), South Australia (8.77c per kWh) or Queensland (7.01c per kWh). And this is because Social Energy is offering the tariff for the first 300 kWh exported each quarter.

Of course, that $2,182 saving mentioned at the top depends upon the customer opting for a finance package through a third party that will cover the upfront costs ($12,000) of the system.

Social Energy’s Managing Director Australia, Chris Parratt, called the launch deal a pioneering step in the Australian energy market, “with an energy plan that finally makes batteries a sensible investment for Australian families.”

SolaX Power Global Sales Director, Gary We, seconded Parratt, noting that the combination of Social Energy’s software platform with its Triple Power battery system “will enable customers in Australia to see faster ROIs on their PV systems.”

Social Energy’s AI links participants in state-based virtual power plants, and forecasts individual property energy consumption against the wholesale energy market price to automatically trade excess power at times of peak demand when electricity charges are at their highest.

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