Leading tech Academy outlines practical steps to reduce energy costs for consumers

A new analysis released today by Australia’s leading tech Academy, the Australian Academy of Technological Sciences and Engineering (ATSE), says better energy policy to relieve costs to customers is within our reach.

The Power to the People explainer draws on expert views to outline the technological and policy levers available to government and the energy sector today to give people more choice over power use when it comes to energy demand and supply.

In a pivotal analysis that maps out a practical renewable energy policy now and for the future, Power to the People gives real answers on how Australia can navigate the energy transition and put the grid to good use.

Australian households could reduce their power bills by hundreds of dollars a year if demand management is smartly integrated into Australian households and businesses.

Power to the People steps out how consumers and governments can save money on electricity with better demand management across the network.

The ATSE analysis calls for incentives to enable customers to reduce energy use and change energy consumption, simultaneously reducing the demand on the grid and the cost of electricity.

Power to the People recommends the following energy policy levers:

• Variable energy pricing incentives during off-peak periods,
• Home energy management systems using internet-connected devices to provide live control of energy use,
• Improved standards to enable devices to more easily communicate across a home system,
• Development of grid-friendly EV charging solutions,
• Household energy storage solutions for more reliable home power and reduced demand on the grid,
• Virtual power plants, where coordinated distributed solar and battery systems work together to enhance grid stability and provide additional capacity during peak demand.

ATSE CEO Kylie Walker said, “The cost of energy is front of mind for households around the country right now. But the growth of renewable energy, storage and energy management technologies means we have new solutions at our fingertips that can help reduce bills and create a more robust electricity system.”

“We have the technologies and capability to dramatically improve the way we use energy. With the right policy incentives in place, individuals and business owners will save money and we will all benefit from a more robust grid.”

By leveraging the power of distributed generation, neighbourhood storage, networked infrastructure and variable price signals, Australians can benefit from cheaper and more reliable low emissions electricity in the years to come.