Diamond Energy GridCredits100
There are times when the energy stored in your battery can deliver value to us and the grid.
With GridCredits100 we can initiate the purchase of your stored battery electricity and you will earn 100 cents/kWh* – helping you reduce your bill a bit more, just like a feed in credit!
Applying is simple!
(i) Install a Reposit Box with your compatible battery;
(ii) Make sure you have an interval bi-directional meter; then
(iii) Switch to Diamond Energy and agree to GridCredits100 terms.
^Clicking on this button confirms you have read, understand and accept our GridCredits100 Terms.
Existing customer and want to get on to GridCredits100? Just contact us.
Nick Pfitzner (in NSW) and Greg Barber (in Vic) switched to Diamond Energy and are receiving GridCredits100 with their new battery solutions – you can read about Nick’s experience and Greg’s experience. You can also read Canstar Blue review of GridCredits100.
How can I find more information on battery and energy management solutions?
What is an interval bi-directional meter?
In Victoria – most smart meters will be interval meters, but may need to be reprogrammed or upgraded to become a bi-directional meter. Victorian properties with solar systems receiving feed in tariff, will most likely be set up with a bi-directional interval meter – ready to receive GridCredits100!
In most cases, NSW, Qld and SA customers will need to upgrade their meter to receive GridCredits100.
How can I check if I have an interval bi-directional meter?
In most cases, NSW, Qld and SA customers will need to upgrade their meter.
You can ask your current electricity retailer if you have an interval bi-directional meter at your property. Alternatively, you can fill in our enquiry form with your details and include in Comments: “I am interested in GridCredits – please confirm if I have an interval bi-directional meter”
It is really helpful if you can include your NMI (National Meter Identifier) from your electricity bill in the Comments section.
Our team will respond to your enquiry within the next few business days.
How much does it cost me to upgrade to an interval bi-directional meter?
- Single phase meter – $295 (exclusive of GST)
- Single phase + controlled load – $335 (exclusive of GST)
- Three phase – $385 (exclusive of GST)
Additional charges may apply if your property is located outside of metropolitan areas[typically $100 (exclusive of GST)]and also if your switchboard requires upgrading or re-wiring.
How do I upgrade to an interval bi-directional meter?
We will contact you and arrange for your meter to be upgraded by one of our metering partners.
It typically takes 2 – 4 weeks for the meter to be upgraded, depending on the work at your site and your location. The cost of your meter upgrade will be included in your Diamond Energy electricity account.
Are there any additional charges with GridCredits100?
You also get to receive Diamond Energy’s competitive electricity rates, discounts and feed in rates.
How much will GridCredits100 reduce my electricity bill by?
The number of likely events is dependent on your home’s location and the ways in which your battery’s discharge can deliver value to us and the grid. There are many factors that determine length and frequency of these events – this is where it gets really technical. The National Electricity Market forecasts and tracks Volatility Factors by region – see more here.
Regions with higher volatility factors usually experience more events. Also, some events last longer than others, which will deliver even greater GridCredits.
The future? It is difficult to predict the future. It is clear that the electricity market is continuing to change rapidly with new demands for electricity coming online, greater supply of renewables into the market (at the home and large scale), new technologies and changes in regulations. Some of these factors work to increase and/or decrease the number of events. The adoption of batteries and accessing GridCredits is one way to capture benefits of these events.
Is Diamond Energy and GridCredits100 available at my property?
We offer GridCredits100 to customers that meet eligibility requirements in these regions.
What happens if I switch and don't meet GridCredits100 eligibility requirements?
How does GridCredits100 appear on my electricity bill?
If I install batteries, will I continue to receive a feed in tariff?
There are two types of feed in tariff schemes – distributor funded feed in tariffs (which are mostly closed for new participants) and electricity retailer funded feed in tariffs. If you are receiving a distributor funded feed in tariff, you should contact your local distributor to find out whether you will be eligible to continue to receive the feed in tariff when you install batteries. You should contact your electricity retailer to understand whether you will continue to receive electricity retailer funded feed in tariffs.
We offer one of the highest retailer funded feed in tariffs (8c/kWh) along with ongoing competitive rates for solar customers.
Are Diamond Energy rates competitive?
We also continually appear as one of the lowest cost electricity retailers in government price comparison websites (Energy Made Easy and My Power Planner).