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Solar Panels Can Do A Lot More Than Just Cut Your Power Bill

Fred and Eglantine Oualid don’t have any solar system installed in their home but are strong believers of renewable energy. They said that they like to choose where the energy comes from and who gets their money for it.

Now, Fred and Eglantine have signed up to trial and eventually use Local Volts, an energy trading system that doesn’t require anything more than a computer or a mobile phone.

Local Volts founder Jitendra Tomar describes their system as the eBay of energy trading. His company will take care of the regulatory requirements, the license and the bureaucracy.

Interested households join up for a flat annual fee and trade energy, whether or not they have solar systems or the capacity to store electricity. Buyers will be able to acquire their energy from anywhere, it can be their next door neighbour who owns a solar system with batteries and has excess energy to sell or from big energy retailers.

 

Click here to read the full story on ABC News

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