Start-up renewable energy retailer targets solar feed-in tariffs

PRESS RELEASE

A new player in the retail energy market launched today, aiming to supply affordable 100 percent renewable- sourced electricity and generous feed in tariffs targeting Australia’s 1.5 million homes with rooftop solar systems.

Green Standard announced plans to attract environmentally conscious consumers and rooftop solar owners by offering 100 renewable energy and a special market price solar feed in tariff with a minimum 10c per kwh floor price. The market price system will track the wholesale energy price throughout the day and give customers a fairer price for the power generated from their solar systems which they feed into electricity grid. The offer comes as some state government tariff subsidies end in 2016 pushing up electricity bills for tens of thousands of rooftop solar owners across the country. Most energy retailers only offer a minimal feed in tariff rate of between 6c-8c per kwh or nothing at all to their customers with a rooftop solar system.

Green Standard is a Sydney based company with experience in energy efficiency and renewable energy products for residential and commercial properties. The company sees a massive demand for affordable renewable energy in the retail energy market which is dominated by the “Big 3” (AGL, Origin and Energy Australia) who nationally have 75% market share but produce less than 20% of their energy from renewable sources.

The company has adopted a crowdfunding strategy to raise up to $5 million in capital to finance its plans with an aim to launch as an energy retailer in the second half of 2017. To attract contributors Green Standard has joined in partnership with 2 leading providers of solar and battery storage products: Energy Matters and Enphase to offer some big discounts. Supporters who pledge to the campaign will receive a renewable energy credit to the full value of their pledged amount to use once the company is launched. Pledges of $250 will also receive a $750 credit toward the cost of a new solar or battery storage system. This means a $250 pledge will attract up to $1000 worth of value.

Green Standard will also be donating 5% of the total funds raised to Mission Australia in the form of rooftop solar and battery storage systems for their properties throughout the country. Green Standard has partnered with Mission Australia; one of Australia’s leading housing and social services charities, to help their customers reduce their dependence on fossil fuels from the grid and to help alleviate energy poverty through self- generating solar and storage systems. Green Standard is also an official sponsor of Earth Hour.

Alexander Abbott, Managing Director of Green Standard, said: “Australia’s energy future lies in renewables which are now the cheapest form of new energy generation. Australia has some of the world’s best solar and wind resources and a 100% renewable energy future is a not too distant reality. We aim to challenge head-on the fossil fuel domination of the energy market by an offering an alternative that is renewable, sustainable and ethical. We also want to support rooftop solar by offering a fair market based feed in tariff.”

The campaign offer is open to residents in NSW, QLD, VIC, SA and TAS. It excludes in WA, NT and the ACT. Details of the funding campaign, which runs from November 1 until January 31 next year, can be found on

Green Standard’s website www.greenstandard.com.au

Contact: Mr. Alexander Abbott, Managing Director, Green Standard Ph: 0416 682 897 Email: a.abbott@greenstandard.com.au