In an Australian first, a small renewable energy company has turned to crowdfunding to build a new solar farm in southern New South Wales.
"I think a lot of everyday Australians are very interested in the transition of the Australian energy system to renewable energy, but feel like it's a bit limited how they can play a role," company director Jonathan Prendergast said. "A lot of people don't get that opportunity. They might be in rental accommodation or may not have a house suitable to rooftop solar, so the idea of a community-owned solar farm that people can invest in ticks a lot of boxes."
"You can put a very small amount of money in, but still have a stake. And if thousands of people all put in $250, then that's a substantial amount to be invested in these sorts of projects," Mr Dahlitz said.The company has a $1.3 million grant for the project from the NSW government, but intends to raise a further $750,000 through crowdsourcing.
"Crowdsourced finance is a bit different. It's relatively new legislation compared to co-ops, which are a different structure and quite old.". The sector is regulated by the Australian Securities and Investments Commission . Climate and energy program director at the Australia Institute Richie Merzian said the crowdsourcing model was promising for the broader energy sector, if it were to gain success.
Can we just remind ourselves that 422 ppm does not care about renewables .
WTF
Renewable fools - blinded by the light. Renewables, by their very nature, are intermittent and therefore unreliable. They cannot supply a constant flow of electricity!!! When will Australia's froot loops understand
Insult added to injury.
I would jump at the chance to do the same, even install solar and a battery. Unfortunately I rent, I don't have the money and can't get finance anyway.
Its about the size of a carpark solar 'farm' I have expressed interest in. If it goes ahead its in suburbia. Stage 1 is solar. Stage 2 is storage
Certainly looks like mum and dad investors are very keen to be a part of the transition. They are putting their money where their mouths are. Very encouraging to see how committed the public are to clean green cheaper energy
Can’t afford to buy 💩at the moment.
Go you good thing
Fools
Why can't anyone tell the average man in the street how much the transition will cost per annum, at a government and personal level,and when it will guarantee supply. Surely this is a known
LOL a new solar farm will fix all our problems. Do ABC clowns actually get paid for this dribble?
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Source: FinancialReview - 🏆 2. / 90 Read more »