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Redback Smart Hybrid Inverter [SMART 100, 2017]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

Redback Technologies’ journey began with a question: Can solar energy storage systems achieve a sub 5-year ROI with today’s technology? To do this, we knew the answer was to establish a vertically integrated business, with an end-to-end solution. Redback’s smart hybrid solar inverters employ a software suite that incorporates significantly greater intelligence than comparative systems in the market. With a unique mix of hardware and software, the system provides flexibility for both on-grid and full off-grid functionality, as well as solar or generator input.

2. WHAT & HOW

The purpose of this innovation is to…

Our vision is to enable the transition from a grid predominantly powered by fossil fuels to one powered by renewables. Redback’s solution addresses the homeowner’s desire for affordable and reliable energy by helping to store, monitor and control energy usage.

It does this by…

Redback’s inverter uses software combined with hardware to maximise smart energy usage. The brain of the system, the Ouija board, connects to devices using Microsoft’s Internet of Things Suite that enables smart appliances to be switched on and off at optimal times, increasing self-consumption so homeowners don’t need to buy back expensive energy from the grid at peak times.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

Redback has developed a highly competitive offering that is truly disrupting the market. Our vertically-integrated Smart Hybrid Inverter features technology that is the most effective use-case for a consumer. The software in the system connects to devices in the home using IoT technology to optimise usage and continues to learn user habits to improve the system over time.

Its various benefits to the customer/end-user include…

For homeowners, we provide reliable and affordable energy by helping to store, monitor and control their storage. For utilities, we enable them to engage clients with on-bill finance, energy intelligence and enable lower costs of ancillary, network and distribution services.

smart_hybrid_solar_inverter_system

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

In the past, energy management was controlled by the utility provider, leaving consumers with little choice over how they consume energy. Clean technologies were too expensive, and there was a lack of knowledge to adequately control the nexus between consumption and generation. Redback’s technology provides the ability for consumers to take control of their energy usage with renewables.

Its predecessors/competitors include…

Redback has no direct competitors given it provides an entire suite of integrated products. It’s been compared to the likes of Sunverge, Tesla, Reposit and Solar Edge in an Energex trial, however no other companies provide a vertically- integrated solution.

5. TARGET MARKET

It is made for…

Redback Technologies provides the ability for homeowners and commercial users to take advantage of low cost energy flows. As Australia’s households are increasingly embracing solar, the size of our target audience has continued to grow.

In 2016, Redback announced a partnership with EnergyAustralia who invested $9.3 million to promote Redback’s solution to its 1.7 million customers.

Recently, Redback also announced a partnership with Duserve Facilities Management which will see Redback’s first steps towards global expansion.

Redback’s international expansion signals a growth in its target audience, with plans to explore the EU and further MENA region in the coming years.

It is available for sale through…

Homeowners can buy the solution from solar installers and electricians who can purchase the product from L&H, Australia’s leading electrical wholesaler or from EnergyAustralia.

Our marketing strategy is to…

Redback positions itself as an affordable, reliable and smart energy solution that provides the greatest intelligence and fastest ROI to residential and commercial users. Redback’s promotes its products through its partnerships in the industry, including EnergyAustralia, Microsoft, Sonepar, University of Queensland and recently, Duserve FM.

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

Maven Judge Vote: Redback Smart Hybrid Inverter – Smart 100 2017
(Please note – The form below is for judging purposes only and is restricted to the public)

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