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Solar-for-apartments pioneer Allume Energy says it is likely that about 2100 out of an eligible pool of over 60,000 Canberra apartments will benefit from the ACT government's $3.6 million shared solar for apartments program which opened for registrations on Friday.
Image: Isabel, a Canberra resident eagerly awaiting grant funding - read more in Canberra Times.
“Less than five percent of apartments will get access to this funding so we suspect it will be a case of first come first served,” Allume Energy chief executive Cameron Knox says.
Allume has been inundated with enquiries from apartment owners eager to utilise the $3.6 million scheme to access cheaper, cleaner energy.
The subsidy, originally announced in June, offers body corporates up to $100,000 to switch to shared rooftop solar systems in the form of a 50% rebate and 50% interest free loan.
“It effectively halves the cost of an average $4000 solar set-up for apartments and the remaining half is financed with a zero interest loan. It’s a no-brainer,” Knox says. “But it’s not going to last forever. Owners corporations will need to get in quick to submit their eligibility application.”
Allume is helping dozens of prospective customers step through this first registration hurdle and the subsequent process of obtaining three comparative quotes.
Allume’s SolShare technology allows multiple apartments to share power from a single rooftop solar system. It is a more efficient set-up than individual apartments installing their own solar system and delivers optimal usage from the solar panels.
The company, which develops and manufactures its SolShare system in Melbourne, has already connected thousands of apartments to rooftop solar worldwide from which tenants are offsetting electricity usage by at least 40 per cent in most cases.
Knox says the ACT Solar for Apartments Program has set the bar for other states to follow.
Allume is gearing up for a record six months of sales with the Victoria government flagging its intention to spend the full $16 million allocated to shared rooftop solar for apartments before July. The Allan government is expected to open up the scheme to applicants before the end of the year.
NSW is also expected to announce its solar for apartment scheme before the end of 2023.
“We're fielding new inquiries every day,” Knox says. “The appetite for cleaner, cheaper energy from apartment dwellers is super strong.”