$ 100m so­lar boost for Ori­gin

Townsville Bulletin - - NEWS -

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.

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ENERGY: More so­lar pan­els are tipped to go up as part of Ori­gin’s So­lar as a Ser­vice scheme.

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