Recently, electricity prices in New South Wales spiked dramatically, creating a unique earning opportunity for savvy solar and battery owners who chose Amber as their electricity retailer.
Amber Electric’s SmartShift programme allows these customers to take advantage of market surges through wholesale feed-in tariff, or FiT, prices.
This can turn smart home energy solutions into money-making systems.
In a remarkable display of smart energy management, 2,900 Amber SmartShift customers in New South Wales collectively earned a staggering $525,424 in a single day.
On this day, many participants reported earnings of more than $1,000.
Let’s explore how this works and how you can maximise your earnings.
In early May, the electricity market in New South Wales experienced an unprecedented price spike.
Several major power generation units went offline, and scheduled maintenance on transmission lines further strained the system.
As a result, wholesale electricity prices soared.
According to SolarQuotes, during peak times on 8 May, prices hit $5.06 per kilowatt-hour, or kWh.
The Australian Energy Market Operator, or AEMO, had to step in, capping prices at $600 per MWh to stabilise the market.
SmartShift is a Virtual Power Plant, or VPP, programme by Amber Electric that leverages real-time electricity pricing to benefit customers with a solar and battery solution.
This type of setup is also known as a smart home upgrade.
SmartShift automatically allows you to sell stored energy from your battery back to the grid at a premium.
This can result in substantial earnings, especially during price spikes like the one recently seen in New South Wales.
Customers have shared success stories of significant earnings, with many making over $1,000 in just one day.
Across 2,900 Amber SmartShift customers in New South Wales, they collectively earned $525,424 within a 24-hour period.
Many Smart Energy Answers customers using SmartShift also benefited from this opportunity.
This includes Matt, who exported 66 kWh on that day and earned $868 in one day from his smart home upgrade.
With the uptake of EVs and the continued electrification of our busy modern lives, price spikes like the one experienced on 8 May may become more common.
However, customers participating in Amber Electric’s SmartShift programme can significantly offset the impact of monthly energy expenses.
With SmartShift, you can accumulate substantial credits that offset or even cover your entire monthly energy bill.
SmartShift not only accelerates the payback period of your investment in a smart home upgrade, but also opens the door to potential profits.
SmartShift can turn your energy system into a real-time, cash-generating asset.
To fully benefit from SmartShift, it is essential that your premises undergo a smart home upgrade and that your solar panel system is paired with a high-quality smart battery.
By generating power from the sun, solar panels reduce your reliance on the grid.
A battery system allows you to store this clean solar energy for your own use or sell that stored energy during peak price periods.
This smart home upgrade transforms your home into a mini power station, giving you greater energy independence and profit potential.
Understanding when and how you use electricity is crucial.
Shifting your energy usage so it aligns with low-price periods or high solar generation can help you save money and maximise your profits.
You can gain additional benefits by automating home appliances to run during off-peak hours or by using power-hungry appliances when your solar panels are generating the most energy from the sun.
The SmartShift app is your gateway to maximising earnings.
It provides real-time data and price signals, helping you make informed decisions.
By regularly monitoring the app, you can adjust your settings and stay proactive.
The app’s features allow you to optimise your stored energy and decide when to sell it back to the grid.
Pay close attention to price signals from the app.
When prices are high, it is the perfect time to discharge your battery and sell your energy back to the grid.
During low-price periods, you can charge your battery from the grid if needed.
By strategically responding to these signals, you can significantly reduce your energy charges and boost your earnings.
To learn the VPP game faster, stay informed about market trends and developments.
Joining VPP forums and groups with other SmartShift participants can help you learn from shared experiences and strategies.
Like anything in life, learning from others can provide valuable insights that help refine your energy-earning strategy and maximise your profits.
A smart home upgrade combined with Amber Electric’s SmartShift offers an exciting opportunity to turn your solar and battery system into a profit-generating asset through a Virtual Power Plant, or VPP.
To maximise SmartShift benefits, active participants monitor their energy usage and respond to price signals, creating more opportunities to increase their earnings.
Interested in boosting your solar and battery payback?
Learn more about Amber SmartShift and Virtual Power Plants, or speak with our energy solutions consultant today.
