Australian solar energy software provider Solar Analytics has been chosen as one of 12 companies from 450 start-ups around the world to join a Hawaiian accelerator and will develop peer-to-peer solar energy trading in the Asia-Pacific.
Seven of the companies in the Elemental Excelerator 2018 cohort, including Solar Analytics, will receive up to $US1 million to implement their project.
Solar Analytics will deploy a peer-to-peer shared electricity trading platform to connect solar owners with non-solar owners, to provide affordable solar electricity to households and community groups. This will enable solar homeowners or businesses to select from a range of options for how they sell their surplus solar, and non-solar households to choose from whom and at what price they want to buy this surplus solar.
A project team from Solar Analytics is in Hawaii to launch the 2018 cohort and kick off the project. Solar Analytics will announce its Australian partners in the coming weeks.
Elemental Excelerator is an Hawaii-based incubator and accelerator for start-ups to support growth of commercial projects that will positively impact local communities in the areas of energy, water, agriculture and transportation, to then scale on a national and international level.
This year, Elemental Excelerator saw two major trends: innovative solutions in the application of machine learning to energy and mobility software, and the commercial application of peer-to-peer energy sharing.
Australian solar tech company Allume has been chosen as one of five companies in the go-to-market track of the accelerator, receiving up to $75,000 in funding for solar sharing for multi-family dwellings.
“The Elemental Excelerator program provides Solar Analytics with a remarkable opportunity to take advantage of the high energy awareness in Australia and Hawaii, to develop and launch a platform that will increase solar uptake and improve electricity options for local communities,” said Solar Analytics co-founder and director Dr Renate Egan.
“Our intent is to provide the benefits of solar to those who can’t put solar on their roof, providing greater options and visibility for their decisions around energy and lowering their electricity costs. With Solar Analytics customers exporting almost half of their solar electricity, that’s a lot of potential shared energy.”
Solar Analytics’ monitoring service provides performance monitoring and fault diagnosis of residential solar PV systems. The business provides solar monitoring for more than 15,000 solar households across Australia and has recently entered the New Zealand and US markets.