01 Performance ORIGIN SOLAR AS A SERVICE

CEFC ANNUAL REPORT / 2014–15

Origin Solar as a Service

The CEFC and Origin have joined forces to further the deployment of solar energy and storage in Australia, via a 12-year $100 million CEFC financing commitment

Project Scope

The finance supports Origin’s offering of power purchase agreements (PPAs) to business and residential customers, helping more consumers access solar energy and ultimately for energy storage. Through its Solar as a Service offering, Origin owns, installs and maintains residential and commercial rooftop solar PV systems.

PPAs are an innovative way of driving further uptake of solar, by effectively allowing solar customers to purchase the energy generated from their panels, rather than having to purchase the panels themselves.

They offer a clear benefit for residential and business consumers, who can have increased confidence about their long-term electricity costs, while at the same time enjoying the benefits of solar.

The CEFC’s commitment to this financing reflects its complementary role in investing alongside the private sector to support new financing structures that catalyse investment in renewable energy technologies.

Looking to the future

An estimated one in seven Australian households benefit from solar energy.

Bloomberg New Energy Finance expects that by 2030, Australia will have around 23GW of installed large, commercial and residential solar PV. This includes an expected 5 million commercial and residential systems, with an increasing proportion of solar installations in the commercial sector.

The CEFC is setting precedents in financing solar in Australia with investments that broaden and deepen local skills within the sector, while supporting the adoption of commercially- proven technologies and internationally-proven finance models.

Solar as a Service is already proving an attractive proposition to customers since it was launched earlier this year, and the CEFC finance will be used in expanding the offering, so more Australians can enjoy the benefits of solar.” Origin General Manager Solar and Emerging Businesses, Phil Mackey