ARENA supports USD-21m DER market trial in Victoria
Residential solar system. Author: David TREBOSC. License: Creative Commons, Attribution-NoDerivs 2.0 Generic.
The Australian Renewable Energy Agency (ARENA) will provide AUD 12.9 million (USD 9.65m/EUR 8m) in funding for a three-year trial related to the creation of a prototype Distributed Energy Resources (DER) marketplace in the state of Victoria.
As part of the so-called Project Edge that is valued at AUD 28 million in total, the Australian Energy Market Operator (AEMO) will cooperate with network AusNet Services and Mondo to coordinate the development of a replicable model for trading of electricity and grid services from DER. The prototype market will be dispatched and traded as part of the National Electricity Market (NEM).
The project, which is based in the Hume region of north east Victoria, will initially involve about 50 residential customers before being scaled up to 1,000 residential, commercial and industrial customers.
“This trial will help to develop trading mechanisms to maximise the economic benefits to customers and the system and minimise the costs of supply to all energy customers,” ARENA CEO Darren Miller said.