First of its kind solar initiative aiming to solve the energy crisis for disability and community housing residents with benefits for tenants, developers, and investors alike.
Blog | December 5th, 2022
More than 600 disability and community housing residents in Sydney are set to benefit from a significant reduction in their ongoing daytime energy costs, thanks to a first of its kind initiative installing fully funded rooftop solar systems on homes.
The Community Solar Program pilot has been developed by national solar provider Solar Energy Enterprises and not-for-profit Community Housing Provider BlueCHP and operates under a Power Purchase Agreement (PPA). Under the PPA, residents pay for the solar power their home uses, but at a much lower rate – approximately 40% less – than traditional grid electricity, guaranteeing an ongoing reduction in their cost of living.
“People with a lower socioeconomic status tend to be the ones hit the hardest by electricity price hikes, and without the funds to pay outright for a solar system, they have little to no option other than to absorb this cost and look for somewhere else they can cut expenses”, BlueCHP CEO Charles Northcote says.
“We’re seeing a cost-of-living crisis currently in the UK, with household energy prices a large contributor to this. There are so many people having to choose between paying their electricity bills or having enough food to eat that week, and we want to do everything we can to help ensure the residents in our homes aren’t faced with having to make this choice as well”.
While residential solar PPAs are a popular model in the US, they remain a relatively uncharted solution for households in Australia, despite being one of the sunniest continents in the world. If the Community Solar Program pilot is successful, the model is set to be rolled out at scale and could be advantageous for residents, developers and investors alike.
“The benefits of this initiative are multifaceted, and that’s what makes it so revolutionary”, says Solar Energy Enterprises CEO, Adam Dragic.
“Residents who may not have had the opportunity to access more sustainable and cheaper energy from solar do not have to find the upfront capital to pay for the solar system, developers increase the value of the homes and can offer genuine benefits for their tenants without increasing their operating costs, and investors are expected to get a return of between 7% to 8% on the initial investment”, he says.
BlueCHP’s portfolio contains over 800 houses, a significant undertaking alone, but Northcote’s larger vision for the program is to pave the way for the approximately 400,000 social housing properties in Australia to access affordable sustainability solutions.
“This initiative has the potential to disrupt the entire social housing and energy industry”, Dragic adds.
Future opportunities to integrate virtual power sharing and battery storage into the program are currently underway and have always been a part of the long-term plan for the initiative, further adding to the benefits on offer and aiding in a holistic, long-term approach to sustainability.
Solar Energy Enterprises is excited about what the future holds and is committed to challenging the status quo and bringing further innovation to a slow changing, but vitally important industry.
For investor enquiries, please contact savingtheplanet@solarenergyenterprises.com.au
About Solar Energy Enterprises
Solar Energy Enterprises is a Clean Energy Council accredited solar & renewable energy business, with over 10 years’ experience in delivering energy solutions for commercial, hospitality, retail, industrial, agricultural, and large residential clients.
At the forefront of technology and with a holistic view to energy usage, Solar Energy Enterprises offers a dynamic product range including solar PV systems, PPAs, solar batteries, carbon offsetting, customised electricity tariffs and EV chargers.
Our expertise, coupled with our wide spectrum of renewable energy products, ensures Solar Energy Enterprises is well positioned to offer full turn-key solutions for energy projects of any size through our experienced team of in-house designers and engineers.
Website: www.solarenergyenterprises.com.au
About BlueCHP
BlueCHP seeks to make a difference to people’s lives by providing housing choices to disadvantaged Australians utilising all the benefits that we can derive from our charitable status. Our people seek to be inclusive and collaborative with all peoples, companies and governments to deliver these outcomes. We cherish all contributions. We believe in creating a feeling of belonging to the BlueCHP family.
We seek to build a company that continues to focus on the provision of affordable & disability housing for generations and steward the resources we have to the best of our abilities. Our Homes will be diverse, offering choice for different ages, abilities and life stages. Website: www.bluechp.com.au
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