The electricity sector is undergoing transformational change. To date, millions of Australian consumers and businesses have adopted solar PV to reduce exposure to climbing energy costs. Increasing generation and distribution costs combined with dramatic cost reductions in photovoltaic technologies are cumulatively re-defining the relationship between consumer, utility and the grid. The availability of low cost grid-connected battery storage options, exacerbated by the reduction of feed-in tariffs by utilities and policy makers, has jointly provided a fertile market for behind-the-meter storage becoming the preferred option to maximize returns from photovoltaic assets.
Redback is poised to take advantage of future demand for energy storage through acting as a technology enabler for utilities, finance companies and solar installation companies to own and operate distributed photovoltaic powered energy storage assets. Redback Technologies, together with its development partners, will introduce a range of solar and energy storage products that will afford residential and small commercial customers the ability to reduce their reliance on existing grid infrastructure, while significantly reducing energy costs.