New funding should enhance consumer control over personal energy systems through an investment in smart technology. 

An initiative by the Clean Energy Finance Corporation (CEFC) aims to provide households with sophisticated tools to manage their solar panels, home batteries, electric vehicle (EV) chargers, air conditioning, and hot water systems.

A $50 million loan commitment from the CEFC will enable Intellihub, Australia’s leading smart metering device provider, to expand the deployment of smart meters and increase investment in behind-the-meter (BTM) devices. 

These technologies are a major help in integrating renewable energy into the grid and improving grid reliability while reducing energy costs for consumers.

Smart meters and BTM devices are poised to play a crucial role in Australia’s transition to a cleaner energy mix. 

These technologies allow consumers to monitor and control energy usage from various sources, including solar panels and home batteries. 

By using these devices, households can optimise their energy consumption, benefiting from lower-cost renewable energy and contributing to grid stability.

“More and more Australians are generating and storing their own electricity, using the energy of the sun to power their cars as well as their energy efficient appliances, backed up by home batteries,” says Monique Miller, CEFC's Chief Investment Officer for Renewables and Sustainable Finance.

“By using smart meters and smart behind-the-meter devices, we can better understand when and how we use energy and make changes that will save on power costs as well as reduce our carbon footprint”. 

Additionally, the Australian Energy Market Commission (AEMC) has proposed a draft rule to accelerate smart meter deployment by 2030. This initiative aims for universal smart meter uptake, potentially delivering $507 million in net benefits across New South Wales, Queensland, the Australian Capital Territory, and South Australia.

Intellihub, in partnership with the Australian Renewable Energy Agency (ARENA), is developing a demand flexibility platform. This platform will orchestrate over 100,000 devices, contributing more than 500 megawatts (MW) to the grid. 

ARENA and the Australian Energy Market Operator (AEMO) are working on a national consumer energy resource data exchange to help integrate small-scale energy resources, like rooftop solar and home batteries, into the broader electricity system.