The New South Wales government has welcomed SunEdison establishing its Commercial/Utility Solar Sales and Finance headquarters in the state.
Minister for Industry, Resources and Energy, Anthony Roberts, said SunEdison Australia’s decision was a vote of confidence the state’s economy, workforce and the government’s support for renewable energy.
“This decision builds on the investment the NSW Government has attracted,” stated Mr. Roberts.
“NSW is leading the nation in supporting the clean energy sector, which contributes to lower energy costs and provides employment and investment particularly in regional communities.”
NSW Trade & Investment worked with SunEdison over four years to facilitate its establishment in NSW. The company will create up to 40 jobs at its new Sydney headquarters.
US-owned SunEdison was established in St. Peters, Missouri, in 1959. Today, SunEdison is the world’s largest renewable energy developer; employing more than 5,600 people worldwide in 35 locations across North America, Europe, and Asia.
SunEdison Australia has its sights set on installing approximately 50 megawatts of solar panels throughout Australia during the next 12 months.
In addition to expanding its residential solar activities through the introduction of initiatives such as SunEdison Energy Plan and home battery storage, SunEdison Australia will rapidly scale up its commercial scale arm.
Managing Director Jeremy Rich says Australian commercial rooftops are “an untapped opportunity“.
Australia’s commercial solar sector has grown significantly in recent times as businesses become increasingly aware of the energy bill savings to be made by installing solar panels.
One of the barriers for companies considering solar previously was the up-front cost. However, innovative financial tools such as solar leasing and SunEdison’s pioneering of solar power purchase agreements (PPA) have enabled businesses to install solar power for zero capital outlay; and without the technical risks and burdens associated with ownership.
Under a solar PPA arrangement, SunEdison installs, owns, monitors and maintains the system, with the customer purchasing the electricity generated at a locked-in rate that is significantly lower than mains-supplied power. A grid connection is maintained to ensure reliable supply of electricity and systems are usually designed to match daytime load to maximise the customer’s savings.