Antinuclear

Mawson Lakes solar panel manufacturer Tindo Solar will install solar panels free for an estimated 5000 businesses and households around the state in the next year.

However, if the scheme proves popular the company says there will be no cap on the number of people able to sign up.

Customers will pay for electricity for an agreed time frame of up to 15 years before owning the panels outright.Tindo business and people manager Richard Inwood said the scheme would be a “game changer” and revolutionise the electricity market in Australia. 

“Instead of us selling the system, we’re selling the electricity that that system is generating – that electricity is going to pay off that system,” he said.“We have now become a retailer of 100 per cent green energy that is cheaper than what can be purchased from the grid.”

“SA Power Networks made more than $300 million profit last financial year – that shows how much fat is in there.”

Tindo Solar secured a $30 million loan, under the Federal Government-funded Clean Energy Finance Corporation, last week to install the systems with more money available if demand exceeds expectations, Mr Inwood said.

He said the scheme would provide customers with daytime electricity prices that were 20 to 30 per cent cheaper than most other providers. “Energy has increased around 70 per cent in the last seven years,” he said. “If you look at the average electricity cost per kilowatt it’s 35 to 42 cents per kilowatt – we will provide you with a price of around 25c a kilowatt.”

“Price rises will be no more than one per cent per annum and we want to take the worry around energy price increases away from the public generally and give them certainty. It’s the long term certainty over your energy bills that is exciting.”

Mr Inwood said the company guaranteed its flagship panels had a 240V AC output, with testing at Tindo of other imported panels installed in South Australia revealing the actual output often does not always match the higher voltage promise and brings associated safety compromises.

He said an anticipated upsurge in business for the Mawson Lakes business could mean more jobs for the company.

“Recruiting and on-boarding of factory staff could take as little as four weeks,” he said.

“We currently have 24 staff and would see this at least treble if we are to get the $30 million spent in two years which is what is required.”

Mr Inwood said the State Government also supported the scheme with a tender for 200 public housing homes in the pipeline.

 FACTS:

 Upfront cost – $0.

Repayment time frame – up to 15 years – longer in some cases. Customer will own the system at the end of the agreement.

Price per kilowatt – 20-30 per cent cheaper than traditional energy providers.

Annual price rises – up to 1 per cent a year.

Expected uptake – 5000 businesses and households in the next year.

READ MORE: Tindo Solar welcomes ACCC probe into solar advertising