High level of risk for key stakeholders
We are seeing a rapid interest in energy storage. After all, it could be the solution that will help consumers reduce their energy bills and become energy independent. So, what is out there to give consumers the confidence and protection to buy an energy storage system? Prior to Flexi-Orb there were no coordinated regulations or stipulated consumer protection mechanisms to ensure the safe and controlled sale, deployment, decommissioning and recycling of flexible energy devices, such as energy storage.
Our need to expedite the deployment of energy storage systems could, in fact, strangle the market before it gains momentum. With any new technology, there will always be early adopters who want to try the product for what it can do. The key is for these adopters to not have a bad experience, in order to become advocates. Consumers who have an existing Solar PV system could be an ideal target audience because they are already generating clean electricity and potentially could feed this into the storage system to use later at night. However, without proper regulation and protection, these consumers could be in a worse position after the installation of the energy storage system.