WattBank
with WattBank - Virtual Battery Storage
Your new solar system comes with
WattBank when you switch to Diamond Energy
Valued at 15c/kWh*
WattBank gives you 50kWh/week of
“Virtual Battery” Capacity for three years*
(Approximately 2,600kWh per annum)
t Focusing on working with solar customers, so you are important to us
t Providing local and specialised customer service for the right advice
t Offering streamlined and quicker processes
t Committing to competitive rates with no hidden costs
t Sourcing Renewable Energy and supplying it to our customers
Switch, Store and Save with WattBank
*With Diamond Energy WattBank you can receive 15cents/kWh up to your 50 kWh/week Virtual Battery Capacity. Conditions and Eligibility Criteria apply.
Unless otherwise authorised by Diamond Energy, this offer is only available for new solar-PV systems obtained from a Diamond Energy affiliate solar
installer for customers with bidirectional interval metering. For further details refer to the Diamond Energy Frequently Asked Questions and offer Agreement.
Diamond Energy may modify or withdraw this offer at anytime without notice. All rates are GST inclusive.
Only available through Diamond Energy agents www.diamondenergy.com.au
Diamond Energy – The Solar Friendly Retailer
WattBank - Frequently Asked Questions
Introducing Diamond Energy and WattBank
Diamond Energy is the solar friendly electricity retailer, is
renewable and believe that customer service is a priority.
“Going solar” is a great way to take control of your energy use and
to achieve a level of energy independence. Diamond Energy is
excited to offer eligible customers WattBank, allowing customers
to “store” the value of their solar energy up to a chosen capacity
for you to draw on as needed, effectively a “Virtual Battery”!
How does the WattBank “Virtual Battery” work?
The WattBank Virtual Battery works as follows:
o “Charging” the Virtual Battery: With WattBank we will credit
your electricity account 15 cents (incl. GST) for each exported
kWh up to 50 kWh/week; and
o “Drawing from” the Virtual Battery: This credit will
accumulate on your electricity account and will be available to
offset any other charges incurred – for example offsetting the
electricity you use at weekends!
Any excess export kWh above your chosen Virtual Battery Capacity
will still get Diamond Energy’s great Solar Feed-in Rate currently
set at 8 cents/kWh (incl. GST).
Also if you are eligible for any Distributor funded Feed-in Tariff, you
will also receive that Tariff for all exported kWh as well.
Please note the WattBank 15 cent rate is inclusive of any regulated
minimum retailer Feed-in payment.
How does the Virtual Battery size compare with my use?
With WattBank you have a 50 kWh/week Virtual Battery Capacity.
For comparison, the average Australian household uses about
115 kWh/week (6,000 kWh/year) prior to installing solar. After
installing a 3 KW system this same household is expected to use
about 60-80 kWh/week (3,000-4000 kWh/year).
Note your Virtual Battery Credit is calculated weekly. Any unused
capacity from a given week (Monday to Sunday) does not roll
forward to following weeks.
How do I qualify for Diamond Energy’s WattBank?
To qualify for this offer, you must:
be located in VIC, NSW, SA or QLD (Energex area only);
install a new solar system up to 10 kW total capacity,
purchased from a Diamond Energy approved Agent;
install the solar system on your primary residence and have
suitable metering installed (interval only);
be a new Diamond Energy customer;
enter into a retail electricity supply agreement with us;
accept Direct Debit and email billing; and
complete the sizing your system survey (which helps us
understand your individual circumstances and to align your
system size and Virtual Battery Capacity relative to your needs)
Should I consider time-of-use Pricing
Customers with solar typically see greater benefit from “time-ofuse” rates , if available, rather than from “all-time” rates. “all-time”
rates apply 24 hour/day and 7 days a week (usually at a flat rate).
Whilst “time-of-use” rates vary based on peak, shoulder and offpeak periods, with the times of which varying by Distribution zone.
For example, with “all-time” rates, the electricity you consume
from the grid at 2 AM in the morning is at the same rate as
electricity you consume at 3 PM. Alternatively, with “time-of-use”
rates - off-peak rates apply at 2 AM and peak or shoulder rates
apply at 3 PM, which is when your solar system is operating.
To get a further saving on electricity bills, many solar customers
can consider: (i) shift some of their electricity usage to off-peak
periods and/or (ii) consume more of the electricity generated from
solar system.
Some tips to help you manage your electricity usage include setting
timers on major appliances, like dishwashers, dryers & washing
machines.
How long does WattBank go for?
The WattBank Virtual Battery will continue for three years. After
which you will revert to Diamond Energy’s standard retail import
and Feed-in Credit rates that are applicable at that time.
What happens if I leave before the end of the term?
We would be sad to see you go! - But you can choose to leave
Diamond Energy at any time. If you leave within or during the Term
or Minimum Supply Period you will lose any remaining WattBank
benefits. A termination fee of $22 (incl. GST) will apply and will be
added to your final invoice.
How do I get bills?
Diamond Energy encourages paperless billing which is convenient,
effortless & helps to “do our bit” for the environment. Customers
must accept email billing & Direct Debit to obtain this product.
How does my bill appear with WattBank?
Your electricity bill will show service to property and import
charges as per usual as well as any WattBank credits, Diamond
Energy Feed-in Credits; Distributor Feed-in Tariff credits and any
other fees and adjustments as appropriate.
When we issue you your bill you may receive a payment if you
have excess credits (WattBank, Diamond Energy Feed-in and/or
Distributor Feed-in Credits) directly to your bank account.
How do I receive payment of my Excess Credits?
Yes, customers who sign for direct debit will receive payment of
their excess Feed-in and WattBank credit automatically into their
designated bank account, every quarter at no cost if your
electricity bill is in credit by more than $50. Credit amounts less
than $50 will be carried forward and credited to your next bill. See
our direct debit agreement for further details. Please note, we are
unable to make credit balance payments into credit card accounts.
Is there an Establishment Fee?
An Establishment Fee of $22 (incl-GST) is payable and will be added
to your first bill.
How much electricity will I export?
Typically, for most households a solar system will export between
30% -50% of what is generated each year.
What happens now?
A Diamond Energy approved solar agent representative should call
you to discuss this offer. If you wish to proceed they can supply
you with the relevant paperwork to sign you onto this offer. If you
have not been contacted & need further information about your
individual circumstances or solar agent contact us
email:
[email protected]
phone: 1300 838 009
In this way, the combination of “time-of-use” rates plus your solar
system can help you reduce your usage during periods of higher
rates and allow you to take advantage of the lower off-peak rates.
140131
Page 1 of 1