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PAYG Commercial Solar [SMART 100, 2015]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

…Huon Hoogesteger, founder of Smart Commercial Solar, became frustrated by the inconsistent adoption of solar energy in Australia at the commercial level. He had a vision to raise the standard of the solar industry, which he perceived as riddled with inconsistent and often poor practices and little accountability. 

He built an elite, math-centric team, developed sophisticated system monitoring and analytical processes, and created an innovation called PAYG that allows businesses to get solar installations for no upfront costs while simultaneously lowering their electricity bills. 

The AFR has written about his story here: http://bit.ly/1FPKpVy

2. WHAT & HOW

The purpose of this innovation is to…

make the adoption of solar conductors by organisations, of almost any size possible, and enable many operations that believe they cannot afford solar to benefit from lower energy prices in the short-term and free energy for decades after PAYG.

 
 

It does this by…

…using a unique financial and analytical process that harnesses a clean energy fund to finance the commercial installation and advanced monitoring and precise system sizing techniques to generate a return on investment for the fund, as well as immediately lower electricity costs for the business having the solar installed.

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3. PURPOSE & BENEFITS

This innovation improves on what came before because…
 
…nothing like this has existed before. Previously, businesses seeking solar would have to enter into lease arrangements or pay out of pocket which for many businesses proved impossible. As a result, many businesses that could have benefited from solar went without because of unfavorable financing terms or heavy CAPEX.
 
 
Its various benefits to the customer/end-user include…
  
…immediate access to lower cost electricity and the ability to effectively own a power station on their roofs that will create free power for decades. Organisations also enjoy sustainability benefits.
 
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4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…
 
… — the problem really wasn’t solved.
 
Its predecessors/competitors include…
 
…various solar installers and power companies who devised various financing methods in an attempt to sell solar systems — the problem was that they either over-installed, left businesses with unfavorable terms, or priced many businesses out of the market.
 

5. TARGET MARKET

It is made for…

…organisations of all sizes as long as their annual power bills exceed $20,000 per year and they have a steady revenue stream. Private sector, non-profit and government are all ideal candidates.

It is available for sale through…

… www.smartcommercialsolar.com.au and typically requires an in-depth feasibility study conducted by our team of analysts to determine eligibility and ideal design.

Our marketing strategy is to…

…encourage word of mouth through media. A PAYG beneficiary said: “It is the best decision I have ever made, I am saving $400 a month now but I wouldn’t care if it was only $100 because there have been no upfront costs and in seven years, I will own the solar system and be saving upwards of $15,000 per year.”

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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