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Recently, electricity prices in New South Wales spiked dramatically, this created a unique earning opportunity for savvy solar and battery owners who chose Amber as the electrical retailer. Amber Electric’s SmartShift program allows these customers to take advantage of these surges with Wholesale FiT (feed-in tariff) prices, turning their Smart Home energy solutions into money-making machines. In a remarkable display of this power of energy management, 2,900 Amber SmartShift customers in NSW collectively earned a staggering $525,424.00 in a single day. On this day most participants reported earning of more than $1,000.00! Let's explore how this works and how you can maximise your earnings.
Electricity Market Spikes
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, the wholesale electricity prices soared. According to SolarQuotes, during the peak times on the 8th of May, prices hit $5.06 per kilowatt-hour (kWh) and the Australian Energy Market Operator (AEMO) had to step in, capping prices at $600.00 per MWh to stabilise the market.
What is SmartShift?
SmartShift is a VPP (virtual power plant) program by Amber Electric that leverages real-time electricity pricing to benefit customers with a Solar and Battery Solution (Smart Home Upgrade). SmartShift automatically allows you to sell your 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).
One of Our Customers Raked in Nearly $1000 on a Single Day
Customers have shared success stories of significant profits, with most making over $1,000.00 in just one day. Across 2,900 Amber SmartShift customers in NSW, they have collectively earned $525,424 in a 24-hour period. Many Smart Energy Answers customers with SmartShift profited handsomely, including Matt, who exported 66 kWh on that day and earned $868 in one day from their Smart Home Upgrade.
With the uptake of EVs and electrification of our busy modern lives, price spikes (like the one experienced on the 8th of May) are set to become more and more occurring, yet those participating in Amber Electric's SmartShift program can significantly offset the impact their monthly energy expenses through Amber Electric's SmartShift. This is so as 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 it also opens the door to potential profits. SmartShift becomes your new energy investment and it is a real-time lucrative tangible cash-generating machine.
How to Maximise Earnings with SmartShift
To fully benefit from SmartShift, it's 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 (alone) reduce your reliance on the grid, though a battery system allows you to store this green sun-created energy for your use and or sell that energy during peak price periods. This Smart Home Upgrade transforms your home and it becomes a mini power station, that provides you optimal energy independence and profit generation.
Know and Monitor Your Energy Usage
Understanding when and how you use electricity is crucial, as is shifting your energy usage so that it aligns with low-price periods or high solar generation in which you can save money and maximise your profits. What's of great additional benefits to your energy usage is when you automate your home appliances to run during off-peak hours or you primarily use power-hungry home appliances when your solar panels are generating the most energy from the sun.
Utilise the SmartShift App Effectively
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 when to sell it back to the grid.
Respond to Price Signals
Pay close attention to price signals from the app. When prices are high, it's the perfect time to discharge your battery and sell your energy back to the grid. Conversely, during low-price periods, charge your battery from the grid (if needed). If you strategically respond to these signals, you can significantly mitigate your energy charges and boost your earnings.
Engage in Active Participation
To faster learn the VPP game, it's simple just stay informed about market trends and developments. When you join VPP forums and groups of others who participate in SmartShift you'll experience more and share strategies. And like anything in life when you learn from others, valuable insights arise which really help you refine your energy-earning strategies and maximise your profits.
Conclusion
A Smart Home Upgrade combined with Amber Electric’s SmartShift offers everyone an exciting opportunity with solar and battery to turn their stored energy in their batteries into profit-generating assets through this VPP. To maximise SmartShift benefits active participants, monitor their energy usage, and respond to price signals which creates their opportunity to maximise their earnings. Interested in boosting your solar and battery payback? Then learn more about Amber SmartShift, Virtual PowerPlants, or talk to our energy solutions consultant today!
