Your journey to the green revolution is simple with SolarShare. Here’s what it takes:
1. You need to be a Senoko Energy customer on either Fixed Rate or DOT (Discount Off Tariff) plans to enjoy this service. Please note that the following groups of customers are not eligible for SolarShare at the moment.
a. Household customers with IGS meters
b. Business customers on Fuel Index, Wholesale price or Hybrid price plans
2. You need to have a Smart Meter/AMI (Advanced Metering Infrastructure) installed at your premises.
a. Household customers with SRLP/Cumulative meters can contact us to have smart meters installed at $43.20 (incl. GST)
b. Business customers with Senoko Energy who are already equipped with smart meters
3. You have to subscribe to SolarShare to gain access to the trading platform.
a. Household customers can subscribe to SolarShare as a Value-Added-Service via your mobile app or online customer portal from 1 November 2023 onwards
b. Business customers can simply contact your dedicated Account Manager to find out more or email email@example.com to do so
Businesses who have rooftop solar panels locally and looking to maximise your solar investment, please contact us at firstname.lastname@example.org. Please provide us with the following information for an eligibility check:
§ Solar panel generation capacity
§ Past 2 months' electricity bills
Upon successful eligibility check, you will be given access to SolarShare within 7 working days.
For Landed Home Owners with rooftop solar panels who want to maximise your solar investment, you can either choose to (a) install a generation meter and sell your excess solar electricity back to the grid or (b) sign up for Circle of Green service instead.
Households or Businesses without a rooftop can purchase locally-produced solar energy at your preferred green energy price via SolarShare as long as you meet the eligibility criteria above.
Users who have excess solar energy to sell are termed as Prosumers.
As a Prosumer, the process is straightforward. You select the minimum price you are willing to sell the excess energy your solar panels produce. The SolarShare platform will then attempt to match your criteria with others who want to buy/sell around the price range you have set. If no match can be found, Senoko Energy will buy your green attributes at a pre-agreed rate.
A Peer-to-Peer Trade is a direct trade with your preferred party at prices you agree with.
An offer to buy or sell is made (proposing a price) and sent to the other party through the designated email address(es) and they either accept or reject it. In the case of “Buy” trades, a Consumer can set priority for their matched Prosumers.
Both Prosumers and Consumers can set their Community Trade prices – minimum sell price for Prosumers and maximum buy price for Consumers. SolarShare will match up the highest buy prices with the lowest sell prices available.
When each Prosumer’s exported energy is fully allocated, the next lowest sell price shall be assigned to Consumers until all the available Community energy pool is exhausted or there are no Consumers left offering a suitable price.
The price for all Community Trades in a trading period (30 mins) is the same for all Consumers and Prosumers in a community. Traded prices, however, will vary from period to period.
Untraded Energy occurs when meter/MSSL data received by SolarShare comes after the completed trade for the day.
Let’s look at the property below. There are untraded amounts for both imported and exported energy during the month.
In this example, untraded imports account for a total of 13.12kWh for the month, and untraded exports stand at 4.727kWh. The cause of this was due to the late arrival of meter data, which missed the daily trade run, as evident in the chart on Sunday March 12.
Does this happen often?
No, this should not be a norm. As seen in the chart above, there is only one day without trades.
You can do so via a Peer-to-Peer Trade.
Here are the steps to execute a Peer-to-Peer Trade:
To accept or reject your trade proposal, the other party needs to:
Likewise, if you want to accept any trade proposal, you need to:
When creating a new Peer-to-Peer Trade rule or changing anything about an existing Peer-to-Peer Trade rule for a property you manage, SolarShare will notify you via email with a link to the trade rule.
SolarShare offers a dynamic trading environment at every 30-min interval.
Prices can be set dynamically and will be taken into effect as fast as the very next 30-min interval.
However, the trade settlement details will be reflected on SolarShare only on the 10th business day after actual consumption. This allows us to minimise meter adjustment errors.
Tracking electrical energy waves is impossible due to the nature of electricity. It's like a vast lake where generators supply energy, and consumers draw from various points.
SolarShare employs traceability using input-output data, uniquely matching buyers and sellers, and preventing double-selling via the trading algorithm. This means that the energy can be priced according to where it comes from every half hour of the day.
On the SolarShare platform, you can see a unique trade identifier code for every 30 min trade. The counterparty to this trade will see exactly the same identifier on their system, and an audit service is available to trace all trading records and prove their veracity.
No. Trades are calculated independently for each trade interval.
No amount of energy you traded previously will affect the volume or price of your trade at any time interval. This provides both us and you with simplicity and clarity as it is easier to verify that the trades within a specific interval are executed correctly according to our formulas.
Yes, SolarShare will let you know what’s happening every step of the way. You will receive an email confirmation after you execute the following actions on SolarShare:
Yes, the SolarShare platform trade is specific to individual premises at MSSL account level.
No, we do not require additional Security Deposit.
The SolarShare Platform calculates your monthly net trade result, which is then added or subtracted from your Senoko Energy bill as a single line item.
Senoko gets your energy consumption up to nine business days after your date of consumption from the regulators.
We take one day to process the information and you will be able to see your matches in 10 business days. Both consumers and prosumers will be transacting through your Senoko bills monthly.
For Consumers’ bills, it will be reflected as “Green Attributes” under the SolarShare section on the bill.
Yes, you can still sell your excess solar generation to SP Group and be paid by SP Group.
With SolarShare, you can now determine a strike price for your solar energy which may potentially be higher than what SP Group is offering.
SolarShare enables users to source clean, renewable energy directly from local and/or imported solar prosumers, which aids in lowering GHG Scope 2 emissions.
Beyond energy sourcing, the platform provides traceability features that allows you to trace the origin of the energy you consume and quantify the carbon footprint reduced.
As of September 2023, the Singapore government has not provided the framework and criteria for high quality carbon credits. We will update this when there are clear directives from the regulators.
Senoko Energy will register the Green Attributes to Renewable Energy Certificates (RECs) as proof of green generation. These RECs will be sent to the Consumers once a year in March for their green purchases in the preceding year.
Every trade executed in the SolarShare system is encrypted, and trades are individually tagged with a unique trade identifier code. The platform includes an audit service allowing regulators and auditors to be assured that the trade data is valid and untampered.