$ 100m solar boost for Origin
THE rollout of a solar energy scheme at Townsville and metropolitan centres by Origin Energy has been given a $ 100 million boost from the Federal Government’s Clean Energy Finance Corporation.
Origin has secured a 12- year $ 100 million finance commitment from the corporation and will use the funding to help develop its Solar as a Service scheme.
The scheme allows customers to avoid the upfront costs of solar installations.
Under power purchase agreements, customers buy solar energy produced by solar installations on their roofs which are owned, operated and maintained by Origin.
The initial solar contract rate for eligible customers is lower than what they would pay for energy sourced from the grid.
In Queensland, Solar as a Service rates start from 11c/ kWh based on a 5kW system on a 15- year contract.
Origin said the corporation’s finance also provided flexibility to support its future rollout of battery storage systems now under trial and expected available later this year.
Origin general manager solar and emerging business Phil Mackey said the corporation’s finance would be used to expand its Solar as a Service offering.
Clean Energy Finance Corporation CEO Oliver Yates said power purchase agreements offered a clear benefit for residential and business consumers who could have more confidence about long- term electricity costs and at the same time enjoy the benefits of solar energy.
ENERGY: More solar panels are tipped to go up as part of Origin’s Solar as a Service scheme.