Good Energy will purchase excess power generated by three Cornish homes fitted with free solar energy systems in a partnership with GRYD Energy.
Renewable energy supplier and service provider Good Energy has signed an export-only energy purchase agreement (PPA) with UK solar technology company GRYD Energy, meaning the former’s customers can receive clean energy generated by homes across the country in GRYD’s decentralized smart solar network.
The properties involved in the PPA are believed to be the same three properties in St Ives where the company recently tested smart solar and battery storage systems without any upfront costs.
GRYD said at the time that additional energy generated from the solar panels would be sold through export deals the company was in the process of entering into. The deal with Good Energy is a first in the UK: it is designed for a portfolio of domestic properties and is not dependent on using the same supplier for both energy exports and imports.
GRYD’s PPA with Good Energy allows it to sell excess solar energy from its network to the supplier. This ensures an important revenue stream for GRYD, allowing the company to keep the price of its solar subscription service low.
Good Energy manages Feed-in-Tariff (FIT) payments for more than 180,000 generators, including several large residential portfolios such as councils and housing developers.
The partnership also represents Good Energy’s stated intention to expand its decentralized energy services, with a particular focus on solar energy. Similarly, GRYD wants to set up a decentralized energy network in Britain and says it will deploy its technology in 300 homes over the next twelve months.
Mohamed Gaafar, CEO and co-founder of GRYD, said: “The untapped solar potential of the country’s residential rooftops is a huge opportunity to accelerate the transition to renewable energy sources. To realize this progress, collaboration with innovative partners such as Good Energy is necessary. We are excited to see our partnership grow as our network of GRYD homes expands across the UK.”
James Rees, product and propositions director at Good Energy added: “We know that decentralized, small-scale energy generation, such as rooftop solar, can play a big role in decarbonizing our energy system. Partnering with innovators like GRYD to find ways to accelerate solar adoption and lower initial cost barriers is a no-brainer. We hope that this unique agreement will contribute to this.”
