{"id":20782,"date":"2018-04-23T16:21:42","date_gmt":"2018-04-23T05:51:42","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=20782"},"modified":"2021-02-24T12:50:31","modified_gmt":"2021-02-24T02:20:31","slug":"powershop-reposit-gridcredits","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/","title":{"rendered":"Powershop Removes Mystery About Reposit GridCredits"},"content":{"rendered":"<div id=\"attachment_20952\" style=\"width: 1430px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-20952\" class=\"wp-image-20952 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2.jpg\" alt=\"Powershop reveals Reposit GridCredit payments\" width=\"1420\" height=\"730\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2.jpg 1420w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2-300x154.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2-768x395.jpg 768w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2-1024x526.jpg 1024w\" sizes=\"(max-width: 1420px) 100vw, 1420px\" \/><p id=\"caption-attachment-20952\" class=\"wp-caption-text\">Powershop Reveals Dollar Value Of Reposit Payments For Exporting Battery Power To Grid During &#8216;Critical Peaks&#8217;<\/p><\/div>\n<p><a href=\"https:\/\/repositpower.com\" target=\"_blank\" rel=\"noopener\">Reposit<\/a> is a smart controller that helps households make more effective use of\u00a0battery systems.\u00a0 One advantage Reposit provides is during certain &#8212; very limited &#8212; periods of time, you can be paid $1 for each kilowatt-hour of electricity your battery exports to the grid.\u00a0 Reposit calls these payments GridCredits.<!--more--><\/p>\n<p>Getting paid for having a <a href=\"https:\/\/www.solarquotes.com.au\/battery-storage\/comparison-table\/\">battery system<\/a> is cool.\u00a0 The problem is, in the past, it wasn&#8217;t possible to know how much you&#8217;d actually get.\u00a0 This is because Reposit wouldn&#8217;t tell you.\u00a0 While they couldn&#8217;t predict future payment amounts exactly, because they depend on events in the wholesale electricity market, I firmly believe that they could have made a reasonable prediction.\u00a0 But they didn&#8217;t do this.<\/p>\n<p>If they didn&#8217;t like making predictions, what they could have done is provide information on how much typical Reposit enabled battery systems had earned in the past.\u00a0 But they didn&#8217;t do this either.\u00a0 I know because I asked them and they didn&#8217;t tell me.\u00a0 Of course they didn&#8217;t not tell me straight away.\u00a0 Oh no, that would have been too easy!\u00a0 Instead they kept me waiting for three weeks and then didn&#8217;t tell me.\u00a0 If you want to read about this experience and Reposit in general, I wrote about it <a href=\"https:\/\/www.solarquotes.com.au\/blog\/will-reposit-really-halve-the-payback-time-of-your-battery\/\">here<\/a>.<\/p>\n<p>But a week ago I learned about a miracle.\u00a0 Thanks to <a href=\"https:\/\/www.powershop.com.au\/join-grid-impact\/\" target=\"_blank\" rel=\"noopener\">Reposit&#8217;s partnership with the electricity retailer Powershop<\/a>, if you live in Victoria, NSW, or South East Queensland, you can know exactly how much you will receive in GridCredits in advance.\u00a0 Not only will you know how much, but it will be credited to your electricity account quarterly.\u00a0 The annual GridCredit payments for a Reposit equipped battery system with 3.5 to 7.5 kilowatt-hours of storage are:<\/p>\n<ul>\n<li>Victoria: $156 a year.<\/li>\n<li>New South Wales: $68 a year.<\/li>\n<li>South East Queensland: $40 a year.<\/li>\n<\/ul>\n<p>As you can see, it&#8217;s not a huge amount of money, especially if you&#8217;re a Queenslander.\u00a0 But now people can see how much they will be paid for GridCredits with Powershop<sup class='endnote'><a href='https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/#en-20782-1' id='enref-20782-1' onclick='return hhEndnotes_show(20782)'>1<\/a><\/sup>, it helps them to make an informed decision about whether or not buying a Reposit system is a good idea for them, so I think this step is great news.\u00a0 But it only helps and doesn&#8217;t remove all the uncertainty, as the payments will change from year to year.<\/p>\n<h2>More Battery Means More Money<\/h2>\n<p>The larger your battery system the more payment you will receive.\u00a0 Powershop recognizes three battery sizes:<\/p>\n<ul>\n<li>Small &#8212; under 3.5 kilowatt-hours<\/li>\n<li>Medium &#8212; 3.5 to 7.5 kilowatt-hours<\/li>\n<li>Large &#8212; Over 7.5 kilowatt-hours<\/li>\n<\/ul>\n<p>Payments provided for 2018 are as follows:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-20941 size-full\" src=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/pshopbattpay.jpg\" alt=\"Powershop Annual GridCredit Payments By Battery Size\" width=\"839\" height=\"509\" srcset=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/pshopbattpay.jpg 839w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/pshopbattpay-300x182.jpg 300w, https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/pshopbattpay-768x466.jpg 768w\" sizes=\"(max-width: 839px) 100vw, 839px\" \/><\/p>\n<p>Powershop only appears to look at the storage capacity and not the power output of a system.\u00a0 They also don&#8217;t consider battery degradation, so Powershop becomes a more attractive option as batteries age.<\/p>\n<h2>VIC, NSW &amp; SE QLD Only<\/h2>\n<p>Currently Powershop only operates Victoria, New South Wales, and South East Queensland. If you live in South Australia and want to be paid for providing power to the grid through Reposit you can use Diamond Energy to get GridCredits, but you won&#8217;t know how much you will get up front.\u00a0 Currently Diamond Energy and Powershop are your only options for electricity retailers if you want to receive grid credits outside of the ACT. If you use Diamond Energy, you will presumably receive around the same amount as Powershop offers &#8212; maybe more or maybe less.\u00a0 So your choice may depend on how lucky you feel.<\/p>\n<h2>The ACT Is One Big Reposit Party<\/h2>\n<p>While the ACT is technically inside NSW, Powershop does not operate there.\u00a0 But Reposit has created a <a href=\"http:\/\/www.canberratimes.com.au\/act-news\/canberra-businesses-and-homes-trial-worlds-largest-virtual-power-plant-20171130-gzvwiu.html\" target=\"_blank\" rel=\"noopener\">virtual power plant<\/a> in Canberra and everyone with Reposit can receive payment for providing battery power to the grid regardless of who their electricity retailer is.\u00a0 You won&#8217;t be paid in advance as with Powershop, but not having to worry about changing your electricity retailer is an advantage.<\/p>\n<h2>Reasons For Regional Differences<\/h2>\n<p>There&#8217;s a huge difference between states in the amount of GridCredits Powershop offers.\u00a0 South East Queenslanders with a &#8220;medium&#8221; sized battery get $40 a year while medium sized Victorians receive almost 4 times as much.\u00a0 The difference is due to the amount of volatility in state wholesale electricity markets.\u00a0 The closure of Victoria&#8217;s Hazelwood Power Station and high natural gas prices have resulted in many periods of high wholesale electricity prices in that state compared to Queensland, which still has an oversupply of generating capacity and has benefited from rapidly expanding <a href=\"https:\/\/www.solarquotes.com.au\/solar101.html\">rooftop solar<\/a> helping to keep a lid on daytime wholesale electricity prices.<\/p>\n<p>The amount of volatility in Victoria will decline as a large amount of renewable generating capacity is built over the next 2 years and also due to increasing battery storage capacity.\u00a0 As a result GridCredit payments will decrease.\u00a0 The next large power station scheduled for closure is <a href=\"https:\/\/www.solarquotes.com.au\/blog\/liddell-power-plans-mb0354\/\">Liddell<\/a> in 2022 in NSW and this is likely to result in another round of wholesale price volatility and payment increases.<\/p>\n<h2>Payments In SA May Be Similar To VIC<\/h2>\n<p>Like Victoria, South Australia has a lot of wholesale electricity price volatility.\u00a0 While Powershop is not available there, Diamond Energy is and if you are wondering how much you can expect to receive in GridCredits in that state, it may be similar to what Victorians are currently being paid by Powershop.<\/p>\n<h2>Electricity Market Changes May Improve Future Payments<\/h2>\n<p>The National Electricity Market, which covers the eastern states and South Australia, has 5 minute dispatch prices which are averaged over 30 minutes to determine the wholesale electricity spot price.\u00a0 This system is called 30 minute settlement. \u00a0 On the first of July 2021, this will change so the 5 minute periods will determine spot prices without averaging.\u00a0 This is called <a href=\"http:\/\/www.aemo.com.au\/Electricity\/National-Electricity-Market-NEM\/Five-Minute-Settlement\" target=\"_blank\" rel=\"noopener\">5 minute settlement<\/a> and will increase the amount of money that can by made using battery systems to sell power to the grid.<\/p>\n<p>Unfortunately, since people using Reposit are only paid a flat rate of $1 per kilowatt-hour provided and not the actual wholesale price of electricity, which can go as high as <a href=\"https:\/\/www.aemo.com.au\/-\/media\/Files\/Electricity\/NEM\/National-Electricity-Market-Fact-Sheet.pdf\" target=\"_blank\" rel=\"noopener\">$14.20 per kilowatt-hour<\/a>, so they may not actually make much more money from this change.\u00a0 But this is still a few years away and Reposit may have changed the way it compensates people by then.<\/p>\n<p>[<em>Update: I originally wrote that wholesale prices can exceed $20 per kilowatt-hour but that is not correct.<\/em>]<\/p>\n<h2>Powershop Clears The Air<\/h2>\n<p>Thanks to Powershop people can know in advance how much they&#8217;ll receive for battery power they provide to the grid and this makes it easier for them to decide if getting Reposit is worthwhile.\u00a0 But as these payments are not the only advantage Reposit provides, other factors will need to be taken into account and I may look into them in a future article.<\/p>\n<p>Last time I checked, a Reposit battery controller cost about $1000 to buy and install for a home with single phase power.\u00a0 But if you have had a Reposit installed lately, let me know how much it cost you and I&#8217;ll use that real world data to estimate how much people are likely to save &#8212; or lose &#8212; by installing a Reposit smart controller in different parts of Australia.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reposit is a smart controller that helps households make more effective use of\u00a0battery systems.\u00a0 One advantage Reposit provides is during certain &#8212; very limited &#8212; periods of time, you can be paid $1 for each kilowatt-hour of electricity your battery exports to the grid.\u00a0 Reposit calls these payments GridCredits.<\/p>\n","protected":false},"author":10,"featured_media":20952,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[551],"tags":[],"class_list":["post-20782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-battery-storage","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Revealed: How Much You Can Expect To Earn From A Reposit System<\/title>\n<meta name=\"description\" content=\"Finally we can tell you how much Reposit GridCredits are actually worth, thanks to Powershop spilling the beans. So, are they worth it?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Powershop Removes Mystery About Reposit GridCredits\" \/>\n<meta property=\"og:description\" content=\"Finally we can tell you how much Reposit GridCredits are actually worth, thanks to Powershop spilling the beans. So, are they worth it?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/\" \/>\n<meta property=\"og:site_name\" content=\"SolarQuotes Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SolarQuotes\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-23T05:51:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-02-24T02:20:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1420\" \/>\n\t<meta property=\"og:image:height\" content=\"730\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ronald Brakels\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BrakelsRonald\" \/>\n<meta name=\"twitter:site\" content=\"@solar_quotes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/\"},\"author\":{\"name\":\"Ronald Brakels\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#\/schema\/person\/d0ce1779b3f5cb67cb4f146732af2fc7\"},\"headline\":\"Powershop Removes Mystery About Reposit GridCredits\",\"datePublished\":\"2018-04-23T05:51:42+00:00\",\"dateModified\":\"2021-02-24T02:20:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/\"},\"wordCount\":1228,\"commentCount\":6,\"publisher\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2.jpg\",\"articleSection\":[\"Battery Storage\"],\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/\",\"url\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/\",\"name\":\"Revealed: How Much You Can Expect To Earn From A Reposit System\",\"isPartOf\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.solarquotes.com.au\/blog\/powershop-reposit-gridcredits\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.solarquotes.com.au\/blog\/wp-content\/uploads\/2018\/04\/reposit-powershop2.jpg\",\"datePublished\":\"2018-04-23T05:51:42+00:00\",\"dateModified\":\"2021-02-24T02:20:31+00:00\",\"description\":\"Finally we can tell you how much Reposit GridCredits are actually worth, thanks to Powershop spilling the beans. 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