{"id":64314,"date":"2022-08-22T14:18:21","date_gmt":"2022-08-22T03:48:21","guid":{"rendered":"https:\/\/www.solarquotes.com.au\/blog\/?p=64314"},"modified":"2023-11-23T13:55:43","modified_gmt":"2023-11-23T04:25:43","slug":"origin-loop-vpp-review","status":"publish","type":"post","link":"https:\/\/www.solarquotes.com.au\/blog\/origin-loop-vpp-review\/","title":{"rendered":"Origin Loop Virtual Power Plant: $2,000 Bait On A 5-Year Hook"},"content":{"rendered":"\r\n

\"Origin<\/p>\r\n

Origin Energy’s ‘Origin Loop’ Virtual Power Plant (Loop VPP)\u00a0pays you to let Origin discharge your battery into the grid, but you must have an Origin retail electricity plan to use it.\u00a0<\/p>\r\n

Even though there’s a big dollar incentive up front, I don’t think it’s a good deal overall. In this post, I’ll tell you why I’m not excited about the deal, and hopefully, that will help you decide for yourself whether to sign up.<\/p>\r\n

At the moment, there are two ways to join the Origin Loop VPP<\/a>, and they result in very different outcomes, so try not to confuse them:<\/p>\r\n

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  1. Loop VPP BYO:<\/strong>\u00a0 If you currently have a Tesla Powerwall 2, you can join and be paid $1 for every kilowatt-hour they discharge from your battery and send into the grid.\u00a0 You will have to pay for the energy they discharge.\u00a0 You’ll receive a $400 credit on electricity bills when you sign up.\u00a0 You are not locked in and can leave after 20 days.\u00a0 At the moment, there’s no time limit on this deal.\u00a0 It’s available in NSW, VIC, QLD and the ACT.<\/li>\r\n
  2. Buy a battery from Origin:<\/strong>\u00a0 If you join the Loop VPP by buying a battery from Origin, they will pay you $240 a year in return for discharging up to 200 kilowatt-hours from your battery.\u00a0 You’ll need to pay for the energy discharged and be locked into a contract for years.\u00a0 Origin says they will provide $2,000 off the cost of the battery they install if you join before September 30th 2022.\u00a0 This deal is only available if your home is within 50km of the centre of Sydney, Melbourne, Brisbane, or Surfers Paradise.\u00a0<\/li>\r\n<\/ol>\r\n

    In this article, I will:<\/p>\r\n

      \r\n
    • Briefly describe how the Origin Energy Loop Virtual Power Plant works.<\/li>\r\n
    • Give details on the two different ways to join.<\/li>\r\n
    • Explain why it may be poor judgement to bite the hook dangling from the Loop, despite the flashy bait Origin has put on it.<\/li>\r\n<\/ul>\r\n

      What’s A Loop VPP?<\/h2>\r\n

      A Virtual Power Plant (VPP)<\/a> allows a central authority to control multiple batteries in homes and businesses.\u00a0 It can charge them up when wholesale electricity prices are low and discharge them when they’re high.\u00a0 It virtually functions as one large power plant, hence the name.\u00a0\u00a0<\/p>\r\n

      For more details on the Loop Virtual Power Plant, you can watch a 65-second video Origin Energy made.\u00a0 I paid close attention but, because people in the office were doing real work, I had to listen to it with the sound off.\u00a0 But I’m sure I got a pretty good grasp of what was going on, as the visual summary I’ve made will show:<\/p>\r\n

      \"\"<\/p>\r\n

      Because there is a slight chance I may have misinterpreted it, you can watch it for yourself with sound:<\/p>\r\n