Australia is coming up with a new technology that will help the people to make money off the burning hot sun. All throughout the world, Australia will be the first country to implement a new technology of 'virtual power station'.

All countries are familiar with the power station that are built with brick and mortar. The new technology is a "virtual" power station. The virtual power station is made by linking solar panels and batteries on household rooftops. They are made with a new technology of smart grid which brings additional new energy to the system of the virtual power station as reported by The Next Web.

Many homes in Australia has installed batteries and solar panels where the excess electric energy can be traded in a digital marketplace. This new start-up system is developed by a group of techies who incorporated with the energy retailers and electric providers. It is a software based marketplace that came up with a new norm in the energy system.

The energy tech start-up is known as GreenSync. GreenSync is getting its fund by the Australian Renewable Energy Agency. Founder and CEO of GreenSync, Phil Blyth told The Guardian, how this system of energy production and trading will give a new face to renewable energy. 1.6 million rooftop solar panels are installed on the rooftops of houses. By this Australia will become the highest uptake of solar energy in the world. This will, in fact, provide a perfect testing ground for the whole system.

As the houses will change from simple customer to hybrid customer/manufacturer, all households will get paid for their participation in the grid. It will not only make the place a pollution free area but also make the electric energy cheaper. The first project will get launched in June.

Related