Kraken, part of Octopus Energy, has joined forces with battery technology company SolarEdge to deliver flexible, automated energy savings to SolarEdge home battery users.
The strategic partnership will see SolarEdge batteries integrated into the Kraken platform. This allows SolarEdge customers to charge their home battery systems with cheap, clean energy when it is most abundant and sell it back to the grid during peak times, as part of a system fully automated by Kraken.
Octopus Energy customers who also use SolarEdge battery systems will have access to Octopus Energy’s smart import and export tariff “Intelligent Octopus”. In addition, SolarEdge customers around the world can join Kraken’s virtual power plant (VPP): a network of distributed home appliances that help balance the electrical grid.
Zvi Lando, CEO of SolarEdge Technologies, notes: “This strategic partnership places SolarEdge customers at the center of the energy ecosystem and helps increase the energy resiliency of homes and the electric grid in the UK and Texas. As the world continues the transition to net zero, these programs will be critical to ensuring stable penetration of renewable energy into the electricity grid.”
Devrim Celal, CEO of Kraken, said: “This partnership with SolarEdge brings a major player in clean domestic energy technology to our ecosystem. The scale this entails will benefit our customers’ wallets and support the transition to a clean, sustainable energy system.”
Octopus and batteries
Octopus has recently made significant strides in the field of battery energy and solar energy.
Last month, the company announced it had signed an agreement with Gresham House Energy Storage Fund to increase Octopus’ VPP portfolio to more than 1.5 GW. The two-year fixed price toll agreement covers 568MW/920MWh of Gresham House’s battery energy storage system (BESS). Octopus will use the batteries from the BESS project at a price determined by the duration of the assets.
Meanwhile, Octopus has also recently launched a solar and heat pump referral scheme, which it calls “a first in the UK”. Customers who refer people to purchase a heat pump or solar panel system from Octopus will receive a £100 credit on their account, while those who have installed the technology will receive a £100 discount on the cost of the installation.
