West Australian
Saturday 24/07/2010 Page: 71
A Perth solar-technology company says it has developed a combined solar electricity and hot water system that is a world-first and will transform the Australian renewable-energy market. Bright Generation has won a three year contract with retailer NuEnergy for Eastern States distribution of the Solar Combi system and is in the final stages of securing a Perth retail chain to supply the WA market.
Chief executive and co-founder Andrew Hall said the system, to be officially launched in mid-September, would result in a saving on hot water costs of up to 90% and pay for itself within five years. In addition, households with the system would get income for selling electricity back into the grid, instead of energy bills. In WA, customers get 47¢ for every unit sold back into the grid. Mr Hall, a venture capital manager behind green companies like Smart Storage, together with his two cofounders owns a majority shareholding in Bright Generation. The minority investors include Stoneridge Ventures, the manager of Westscheme.
The company's technology grew out of Murdoch University but Mr Hall said his idea for Solar Combi came in part from the untapped opportunity to "double-dip" into the Government's renewable energy rebates. "The combination approach attracts a current renewable energy certificate value of between $6680 and $7680 dependent on location, as well as various State and Federal government solar hot water rebates of $500 to $1000, dependent on eligibility. "
The systems use panels made by German company Solon AG and cost $8000 for a classic and $12,000 for a premium, which factors in Government rebates. Mr Hall said the Solon AG technology was sleek, an important attribute given research had shown Australians they did not want to install equipment that might detract from the appearance of their homes. Bright Generation was also developing a solar air conditioning unit, which was expected to hit the market within two years".
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