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Overview
With the proliferation of new technologies such as solar photovoltaic systems and energy storage, consumers and companies are looking to adopt them to reduce electricity costs.
This has also created new business models such as the leasing model. This allows consumers to lease the new technologies instead of investing in high upfront capital cost. However, consumers will face challenges if they want to (a) install different types of new technologies; and/or (b) lease them from different entities. This is due to the current design of the billing system and different settlement frameworks for different technologies.
More consumers will face these problems in future with the growing interest in renewables and energy storage. If resolved, this could open up vast opportunities for consumers and businesses to cut operational costs. It will also lead to new business opportunities for investors.
EMA is keen to explore solutions with the industry to allow consumers to enjoy more options when choosing technologies to help reduce their electricity costs.
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