SunEdison Acquires Energy Matters Group
SunEdison, a global leader in the development and manufacturing of solar technology, has recently acquired the Energy Matters group of companies. This includes Infinite Energy’s partner Energy Matters, as well as Apollo Energy and SunLock.
A move into the South Pacific
Not just manufacturers of solar PV technology, SunEdison also develop, finance, install and operate distributed solar power plants for residential, commercial, government and utility customers. And with offices in North America, Europe, Latin America, Africa, India and Asia, this acquisition begins their expansion into the South Pacific.
Already providing asset management, monitoring and reporting services for solar systems worldwide, they’ll be stepping into the Australian solar market with expanded product offerings.
What the acquisition means for the Perth and Western Australian solar market
SunEdison identified Infinite Energy’s partner Energy Matters as one of the leading solar and renewable energy firms in Australia, thanks to its strong reputation for customer service and innovation and partnerships such as those with Infinite Energy. Infinite Energy looks forward to its continuing relationship with Energy Matters under SunEdison’s ownership and is excited about bringing SunEdison’s solutions to the Perth and Western Australian solar markets.
Potential changes to the Australian solar purchase model
SunEdison’s new finance model will involve customers either leasing their PV system, or paying per kilowatt-hour of electricity generated by the system. Known as Power Purchase Agreements or PPA models, they’re very common in the United States and Europe, with around 75% of household solar systems sold via PPA or lease financing.
Under a PPA arrangement, energy consumers will no longer have to purchase a system to access immediate savings on electricity. Rather than making a capital investment, customers agree to purchase electricity over a number of years, with the option of transferring the agreement onto the next building tenant.
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