The Australian Renewable Energy Agency (ARENA) is conducting a study on benefits of a microgrid system in Victoria, Australia. LO3 Energy is conducting the study that will evaluate the feasibility of creating a microgrid system for approximately two hundred farms, one hundred residential consumers and twenty commercial businesses in the southeastern region of the state. LO3 Energy is a technology and business development consulting firm that specializes on emerging, decentralized businesses. LO3 Energy is headquartered in Brooklyn, New York in the United States.
The microgrid system in the study will incorporate solar photovoltaic (PV), battery storage, smart appliances and an energy trading platform. The energy trading platform developed by LO3 allow participants to buy and sell locally produced renewable energy. Renewable energy sources like wind and solar generate provide intermittent sources of power. The battery storage system and the energy trading platform will allow customers to have a reliable, continuous source of electricity from renewable energy. LO3 is expected to complete the study by year end, 2018.