Infinite Energy Part of WA’s First Green Title Residential PPA
Infinite Energy is proud to be an integral part of Western Australia’s first green title residential Solar Power Purchase Agreement (PPA).
Developed in conjunction with Yolk Property Group, and in collaboration with the Department of Communities and Ventura Home Group, the PPA will be implemented in a pilot program at The Amble Estate in Girrawheen.
The solar PPA gives residents the opportunity to have a solar system installed on their new home by Infinite Energy for no upfront cost. Instead of paying for the system, residents of The Amble Estate purchase daytime electricity generated by the solar system at a rate that is 40% less than the Synergy A1 tariff, applicable when the bill is paid in full by the due date.
During night-time or when a resident’s usage exceeds the solar PV system’s output, electricity will instead be supplied and purchased from the grid as normal.
Throughout the length of the PPA, Infinite Energy retains ownership of the system and responsibility for any maintenance. After 10 years, residents will have the option to buy the system from Infinite Energy for as little as $1, and benefit from all the free solar electricity it generates for years to come.
The PPA is expected to generate savings of up to $600 a year, per home, equating to a saving of $6,000 over the life of the agreement for each household.
Director of Yolk Property Group, Tao Bourton, said the PPA delivers an innovative way to reduce household electricity costs with long-term savings.
“This is not a marketing gimmick but a considered long-term solution to address rising household costs associated with the volatile power market. Australians pay the highest rates for residential electricity in the world and this aims to remedy that with a model that can be rolled out nationally.
“The PPA allows residents to take advantage of significant savings on their solar electricity for an entire decade; after that, residents can take ownership of the solar equipment to enjoy free solar power for the life of the equipment, which is over 20 years, delivering cost savings to two generations.”
The PPA is a success for residents and developers alike, with residents not required to pay for the installation or running costs, and developers able to customise the PPA to create a version that does not affect profits.
Homebuyers also have the option to integrate solar battery storage and an electric vehicle charger.
Managing Director of Infinite Energy, Aidan Jenkins, said the PPA is set to disrupt the residential solar industry across the country.
“Australia is one of the sunniest continents in the world, with nearly a quarter of Australian homes already having solar panels installed on their roof. This solution allows for an even greater number of households to access the benefits of solar energy, without the upfront cost of installing a system.
“This pilot paves the way for solar PPAs to become the norm for millions of homes across the country, delivering cheaper and cleaner electricity, including to those that do not have the surplus cash to purchase a solar system.”
It’s hoped the information gathered from The Amble Estate will encourage similar residential solar PPAs to be rolled out across all future residential developments nationally, with a similar model then applied to existing dwellings.
About The Amble Estate
The Amble Estate officially launched 24 March 2018 and is a collaboration between Yolk Property Group, Ventura Home Group and the Department of Communities. The project will deliver a mix of affordable and highly sustainable housing, with a minimum 129 dwellings comprising house and land packages, apartments and townhouses. The Amble Estate will also offer private, social and shared equity housing opportunities. Find out more here.
