Your solar panels will be creating energy throughout the day. Depending on your needs, your solar panel array can meet the demands of your energy requirements during the day, but what happens if your solar panels create more energy than you use at home? Where does the energy go and how can you benefit from excess energy?
Install a Home Battery
Instead of sending the excess energy back into the grid, you could send it to your LG Home Battery on your premise. You can then use this stored energy during times when the sun is not shining or if the energy grid goes offline. This will enable you to become more energy independent. Installing a solar battery will also help further decrease your energy bill as you will not have to rely as much on the energy grid during peak demand times or at night.
Feed-In-Tariff
A feed-in-tariff (FiT) is a type of payment system where you are paid based on the energy you feed into the energy grid. FiTs can either be offered by the government or through individual electricity retailers. The importance of a FiT is that it reduces the payback time of the home battery by offering you an incentive for choosing to be more renewable and energy efficient.
Virtual power plant
Your excess solar energy can also be used in a virtual power plant (VPP). A VPP is a collection of distributed energy sources across a number of neighbourhoods which all communicate between one another over Wi-Fi. To join a VPP program you must have an energy storage system like the LG Home Battery. Being a part of a VPP offers a myriad of benefits such as solar battery discounts and reward payments.
A VPP program is one of the latest additions which allows you to use your battery for more than just storing energy and feeding it to your house. VPPs further enable your battery’s usefulness by putting energy storage, sharing, and trading all into your hands. If you are thinking about joining a VPP we have compiled a list of the current programs you can join with the LG Home Battery.