Australian energy technology company GreenSync announced April 5 that it had received $10 million in funding from the Australian Renewable Energy Agency (ARENA) to accelerate the national rollout of what it says is the world’s first Decentralised Energy Exchange (deX).
GreenSync calls deX a digital marketplace that allows electricity networks to better co-ordinate the increasing volume of distributed energy resources (DER) in the electricity grid, while helping consumers get more value from assets such as solar, batteries and electric vehicles.
As an open access software platform, deX is designed to enable transparent and localized marketplaces to operate. Consumer owned devices – solar, smart appliances, batteries and electric vehicles – that are registered with deX will be visible to the network. These devices can then be contracted for grid services such as supplying energy during peak demand, managing frequency or grid voltage, or reducing network constraints.
A technology agnostic platform, deX will be open to all technology providers, networks and retailers; in the company’s words, “creating opportunities for further innovation that takes us towards a transactive grid, where services from DER are valued, participation increases and overall system efficiency and reliability are maintained.”
To date, 100 organizations have partnered with deX, including major utilities, leading technology brands and industry bodies.
Globally, deX has been contracted for major projects in Europe and Japan. The full $32 million deX platform will be scaled up in Australia through select partnership projects with Governments, networks and technology vendors over the next three years.
For more information, see https://dex.energy/.