How could IQe save me up to $617 a year?

IQe is an energy-saving feature built into MyPlaceIQ that helps you use excess solar electricity to cool or heat your home before you arrive. By automatically running your air conditioning when surplus solar energy is available, IQe can reduce the amount of electricity you need to purchase from the grid later in the day.

Independent energy modelling has demonstrated potential savings of up to $617 per year for a modelled Queensland home, simply by making better use of available solar energy.

How does IQe help reduce electricity bills?

Imagine your solar panels are generating excess electricity during the middle of the day while nobody is home.

Normally, that electricity would be exported to the grid, potentially earning you a relatively small feed-in tariff.

Later, when you arrive home and turn on your air conditioning, your solar production has dropped and you may be purchasing electricity at more expensive peak rates.

IQe helps reverse this situation.

It forecasts your home’s solar production and estimates your household’s electricity consumption to determine when there’s enough excess energy to run your air conditioning.

When conditions are right, IQe automatically pre-cools or pre-heats your home, helping you arrive home to a comfortable temperature without needing to rely as heavily on grid electricity.

The result is a more comfortable home and potentially lower electricity bills.

Where does the $617 annual saving come from?

An independent study by Energy Compliance Consultants modelled the benefits of solar-assisted air conditioning in a home in Springfield, Queensland.

The study compared a home with a 6.6 kW solar panel system and conventional air conditioning use against the same home using solar energy to pre-condition the house before occupants returned.

The results showed:

These figures represent net annual household electricity costs, accounting for both purchased electricity and solar feed-in revenue.

Importantly, this scenario didn’t require a free electricity offer. The savings came from changing when the home used its available solar energy.

The findings demonstrate that making better use of the solar power you already generate can be more valuable than simply exporting it to the grid and purchasing electricity later.

Read the full independent energy modelling study.

Can IQe save money without solar panels?

Yes. IQe can also take advantage of eligible electricity plans offering free electricity hours during the day.

If your electricity plan includes a free electricity period, IQe can be configured to run your air conditioning during those hours, pre-cooling or pre-heating your home before you arrive.

The independent study also examined scenarios incorporating three hours of free electricity, demonstrating how timing air conditioning use around lower-cost energy periods can further reduce electricity costs.

Will every household save $617 a year?

Not necessarily. The $617 figure comes from independent modelling of a specific Queensland home and its electricity usage, rather than measured savings from every household using IQe.

Actual savings depend on your solar system’s size, local climate, home insulation, air conditioner, electricity tariffs and how you use your system.

However, the principle remains the same: using electricity when it’s already available at little or no cost can reduce how much expensive electricity you need to purchase later.