Australia’s great solar buy-back: Business offered 6-month break from power bills | RenewEconomy

Australia’s great solar buy-back: Business offered 6-month break from power bills

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Solar buy-back scheme from Smart Commercial Solar and Clear Sky Solar Investments offers an economic leg-up to companies struggling through the Covid-19 crisis.

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One Step Off The Grid

A second Australian solar buy-back scheme has been announced in the space of one week, the latest being a partnership between Smart Commercial Solar teaming up with not-for-profit Clear Sky Solar Investments.

The offering from Smart and Clear Sky aims to give companies struggling through the Covid-19 crisis an opportunity use their existing rooftop solar system to unlock cash flow, get a short breather from paying bills, and then continued access to discounted power.

The companies say the planned “widespread buyback” of existing commercial solar systems apply to solar systems valued at up to $2 million dollars, which would be bought at a premium of 105 per cent of the paid value if the system is under a year old.

The original owner of the solar array would then get free energy for the first six months of operation, and then buy the energy generated back from the investors at costs lower than current utility prices.

The approach puts a Coronavirus twist on Clear Sky’s usual modus operandi, which uses investor funds to pay for the installation of solar panels on a company’s roof, and uses the power generated from those panels to pays them back over a roughly seven-year term.

To read the original story on RenewEconomy sister site One Step Off The Grid, click here…

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