Who are we?

Community / Neighbourhood batteries have the potential to solve one of the biggest issues with residential solar installations which is the economic storage of surplus energy at the low voltage circuit level where big batteries and residential batteries cannot. Individual residential battery systems currently do not make financial sense for users and big batteries only serve specific purposes. Both have high upfront capital costs where residential batteries have long payback periods.

Most energy experts will tell you that community batteries are the more efficient alternative as that upfront capital cost can be spread across multiple users and recovered over time. Unfortunately, initial trials have shown that a sound business model remains elusive. Through innovative work through the University of Melbourne, a business model was developed that has positive cashflow while allowing residents to store some of their excess solar energy during the day to offset their higher demand at night thus save money and directly contribute to net zero.

At StoreIO, we believe that early community batteries operators must develop and prove a solid business model. With smart optimisation of battery locations, an economic community battery is possible. We are developing a methodology and screening tool that will allow us to optimise battery locations across Australia. 

As we finalise our screening tool we are also coming up with innovative ways to package batteries and leverage the use of existing infrastructure. As we continue develop our business model and feasibility study, we are looking for partners. We are seeking discussions from interested councils, DNSPs, communities, battery suppliers and government agencies on how we can apply our model can also achieve their objectives.