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Brief Published: 14 Mar 2017

Australia’s Radical Solar Energy System

The Decentralised Energy Exchange (DeX) will allow Australian citizens to trade excess electricity in a digital marketplace

Australian energy tech start-up GreenSync has launched a world-first digital marketplace that will change the production, trading and consumption of solar energy in Australia.

Unveiled in February 2017, the Decentralised Energy Exchange (DeX) marketplace will create a network of 'virtual' power stations by linking rooftop solar panels and batteries of households together via a smart grid.

The idea is to bring additional energy into the existing system and allow Australian homeowners who have solar panels and batteries to trade excess electricity in a digital marketplace. The system will shift the Australian energy market from a centralised to a decentralised model, amping up citizen power.

"Homes and businesses will be able to monetise their solar and storage assets by essentially renting them to the grid when they're most needed," says Phil Blythe, founder of GreenSync. "Imagine a single marketplace where consumers can connect and configure their energy resources, and all of the upstream value generated by these assets are automatically paid into a bank account or digital wallet."

Honda's NeuV (New Electric Urban Vehicle), a self-driving electric concept car launched at CES 2017, also earns money for its owner. The car monitors electricity rates to charge at the optimal time and automatically sells energy back to the electric grid during periods of high demand.

For more on the wave of new technologies that are decentralising institutions and bringing power to the people on a much bigger scale than we've previously seen, see Synthetic Communities – part of Macro Trend The Currency of Dissent.