The Commonwealth Government said it would help Australians take control of their energy use through the rollout of smart meters, backed by a $50 million Clean Energy Finance Corporation loan to Intellihub, Australia’s largest provider of smart metering devices.
Smart meters improve a household’s ability to use less energy, take advantage of flexible pricing, detect faults and outages faster, and avoid manual checks and estimated bills.
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Better coordination of consumer energy has the potential to contribute 37GW of capacity or 66% of the NEM’s energy storage in 2050, according to the Australian Energy Market Operator’s (AEMO) Integrated System Plan (ISP).
Minister for Climate Change and Energy Chris Bowen said, “The Albanese Government is reducing energy bills for all Australians. This investment will unlock bill savings for Australian households.”
“Smart meters are a key first step to putting solar panels on your roof and a battery at the back door.”
Assistant Minister for Climate Change and Energy Jenny McAllister said, “Australian homes and businesses are choosing renewables because they know it’s cheaper, the Albanese Government is backing them with technology that makes it easier to control.
“New technology has let us count our steps, track bank transactions, and answer the doorbell from work. Smart meters mean we can control appliances and use energy when it’s most abundant and cheap.
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“More smart meters mean more visibility, choice and control for small businesses and families when it comes to electricity consumption and bills.”
The government has supported the Intellihub to launch a Demand Flexibility Platform, and the roll out of EV charging stations in NSW, through $10.62 million in funding from ARENA.
