Brisbane-based technology and artificial intelligence company Planet Ark Power has been recognised as a pioneer in the global energy transition movement, nominated as one of the 15 finalists at the Start Up Energy Transition (SET) awards 2019 which received 450 applications from 80 countries this year.
To be held in Germany this April, the SET Awards are a leading international platform supporting energy innovation facilitated by the German Energy-Agency (dena) in cooperation with the World Energy Council.
Planet Ark Power is all set to share their innovative, impactful solution for transitioning Australia, and subsequently the world, into a clean energy future at the prestigious platform.
It has been nominated as one of three finalists in the category of ‘Intelligent Grids, Platforms & Cyber Security’ by a jury of energy and climate sector experts.
“We’re honoured by the recognition our research and development team has received from the SET Awards 2019. We’re excited to talk about our game-changing technology created to transition the world into a clean energy future,” said Planet Ark Power’s Executive Director, Richard Romanowski.
Australia has been a global leader in adopting residential solar solutions. This is also why the country experienced challenges which made the further adoption and viability of solar solutions on the large-scale commercial, industrial and institutional sectors questionable.
In essence, due to the high penetration of residential rooftop solar, the electricity grid has been receiving a high amount of the surplus rooftop solar energy from these houses, sent back into the grid (i.e. exported). This asks the one-way grid to work as a two-way grid. This causes voltage volatility, which means reliable electricity supply to customers can get interrupted. In response, energy networks impose zero export restrictions, capping the amount of solar that can be dispatched back into the grid.
These restrictions reduce the development of potential urban solar power stations due to low returns of investment in the commercial and industrial context.
Planet Ark Power created an innovative solution to overcome the voltage management challenges faced by energy networks operating on traditional infrastructure.
With zero export restrictions curtailed, the rise of urban rooftop solar farms can take place. This means commercial and industrial rooftops can be turned into power generating stations which can cover both the organisations electricity needs on site, as well as send surplus energy generated back into the grid. It results in major savings on energy bills and also creates a potential new, long-term revenue stream from exporting cheap, clean solar energy.
The Dynamic DVMS ® can also prevent the foreseen social inequity from the phenomena of the ‘grid death spiral’, which is when self-sufficient rooftop solar users cut off from the grid but pass on their share of grid operations and maintenance costs onto other energy users who do not have access to solar themselves.
It ensures sustainable future for energy networks and, cheaper, cleaner energy for all users.
“Global energy transition is one of the biggest challenges in human history. But it is also an amazing opportunity for combining innovative business and political will to create a sustainable energy solution for the planet,” writes Andreas Kuhlmann, CEO of the German Energy-Agency.
This is why Planet Ark Power is excited to share its unique expertise on overcoming grid voltage management challenges on April 9, 2019 at the SET Tech Festival during their pitch, hoping to take away €10,000.00. This will be a welcome addition to Planet Ark Power’s research and development department where innovation is a constant.
“We’re a fast-growing business, but we can’t let the innovation stop!” says Romanowski, “We’re looking to invite external investors later in the year, to keep improving our world-first technology.”
As a partner of Planet Ark™ , one of Australia’s leading environmental organisations, the solutions greatly offset the carbon emissions of the organisation, creating both environmentally responsible and sustainable growth.