Leading energy storage firm, GivEnergy, has partnered with Octopus Energy on a new smart tariff set to unlock the combined benefits of solar power and battery storage. The tariff – Intelligent Octopus Flux – is set to unlock more than £450 of savings per year for consumers. Meanwhile, from a sustainability perspective, Intelligent Octopus Flux will help clean up the UK grid by balancing demand.
The new Intelligent Octopus Flux – or IOF – tariff works by allowing customers to capitalise on cheap, off-peak energy rates. Octopus Energy provides smart tariffs that offer cheap pricing whenever clean energy is flowing through the wires. (Such as overnight, or when renewable generation is peaking, for example.)
When wholesale prices drop, so do customer bills. If, then, the customer can shift their daily electricity use outside of peak times, they can save more.
This is where IOF and its work with solar and storage becomes so game-changing. Customers with a GivEnergy battery system can store the excess energy generated from their solar panels for later use in the evenings. (When energy is typically at its dirtiest and costliest.) And, with the new IOF smart tariff, the GivEnergy home battery will charge and discharge intelligently. So, the system will automatically take advantage of the best rates using a direct API link to Octopus and energy prices.
GivEnergy batteries are currently the only home storage batteries that work with the new Octopus tariff. Seamless integration between GivEnergy software and the Octopus API ensures the smartest, cheapest management of the charge and discharge cycle.
So, the customer doesn’t have to manually programme their tech to charge and discharge. Instead, the new tariff means that customers get the best rates without any hassle.