Australian Electric Car Owners to Make a Killing Selling Power Back to the Grid – But There’s a Shocking Catch That Could Leave Them Out of Pocket
- Electric car owners can sell power back to the grid and even power their own homes through a new AGL pilot program
- However, the economics are complicated, and owners could lose money if they’re not careful
- Experts warn that Australia needs a more robust system for grid stability to meet future demand
AGL has launched a revolutionary pilot program that could turn electric cars into cash cows, allowing owners to sell electricity back to the grid and even power their own homes. But, in a shocking twist, the economics of the scheme may leave owners out of pocket if they’re not careful.
“Customers will be able to charge their car when electricity is cheap or charge their car from solar panels on their roof and then store that energy and use the energy to power their home later in the day,” an AGL spokesperson explained.
The trial program, run in conjunction with four car manufacturers, including Hyundai, aims to support Australia’s transition to renewable energy. However, experts warn that the country needs a more robust system for grid stability to meet future demand.
“What mainstream Australians really want is they want affordable and they want reliable energy. And the way we get there is by investing in 24-7 baseload power, such as coal and gas,” one expert cautioned.
Owners are being urged to weigh up the potential risks, including battery life and warranty implications, before signing up to the scheme. “Ultimately, you’re generating electricity for the government and the electricity companies, so make sure that you’re adequately compensated for helping them with low demand and helping them manage their infrastructure,” warned CarExpert’s Paul Maric.
The pilot program could allow savvy drivers to reap financial rewards while supporting Australia’s transition to renewable energy, but only if they’re willing to do their research and navigate the complicated economics of the scheme.