Virtual Energy Network

A virtual energy network (VEN) is a digital platform that enables households and small businesses to buy and sell solar energy through the existing electricity grid. It enables solar producers to sell surplus energy at favourable rates, consumers to access locally generated solar energy at competitive prices and community-wide utilisation of renewable energy. 

No solar? No problem!

Whether you rent, run a small business or live in a shaded home, you can still benefit. The VEN gives everyone access to lower cost renewable energy, not just those with panels.

The study is entitled The Benefits of Hyper-utilisation of Consumer Energy Resources (CERs) through a Virtual Energy Network (VEN). Our study explores the benefits to consumers and service providers of using a ‘smart’ trading platform to match solar generation with flexible off-take use. It is anticipated that hyper-utilising excess solar with flexible use, e.g. electric vehicle or forklift recharging, will deliver benefits to consumers and providers.

Our research aims to:

• Understand and measure the potential benefits of VEN energy trading, including to consumers and grid operators.
• Boost lower cost solar energy consumption in the middle of the day.
• Help consumers maximise value for their solar generation.
• Enable better utilisation of solar within household and small business communities.

VEN enables you – the participant – to buy and sell solar energy through a smart, flexible trading platform, backed by retailer Energy Locals and powered by Enosi’s Powertracer software. There are two main participant types: 

The virtual energy network (VEN) helps boost daytime solar use, maximise the value of rooftop systems, support smarter local energy consumption and reduce pressure on the electricity grid. Whether you have solar panels or not, the VEN offers real advantages.

For solar generators: You’ve already invested in solar – now get more from it. Instead of exporting excess energy to the grid for just a few cents per kilowatt-hour, you can sell it to others in your community, like neighbours or local organisations, often at better value.

For off-takers (without solar): Even if you don’t have panels, you can still access the benefits of clean, locally generated solar energy, often at lower rates than standard electricity. It’s a smarter way to power your home using energy shared across your community.

This joint initiative unites experts from academia, industry and community organisations to conduct a thorough and impactful study on the benefits of virtual energy networks.

Dr Andrea La Nauze is the project lead of the Virtual Energy Network research study. Andrea is an associate professor of economics and an energy and environmental economist who uses data and a behavioural economics lens to study the decision-making of individuals.

Professor Flavio Menezes is a professor of economics at The University of Queensland. He works in the fields of market design and auction theory, incentives, regulation and competition.

Have a technical question or experiencing an issue? Email the team and we’ll get back to you with the answers.

The Virtual Network Energy research study is a collaboration between Deakin and industry partners, including:

• QuantumNRG
• ReThink Sustainability
• WinZero (Wingecaribee community)
• Energy Consumers Australia

This research is approved by Deakin’s Human Research Ethics Committee (HREC). You will need to provide consent to participate. Your data will be kept secure and confidential.