Our Solar PV Buyback program enables businesses to turn their rooftop solar PV systems into cash plus receive a six months payment holiday when you enter into an agreement to buy the energy from your system. You can register your interest in the program here. Read on to learn how to unlock cash and boost your business cash flow.
We want to help as many of our business customers as possible during these difficult times. We have teamed up with Juice Capital to design an innovative way to release capital through one of your non-core assets.
If you are one of the 20% of our customers with behind-the-meter solar (rooftop solar), it is possible for you to sell your system at an agreed price to receive a one-off cash payment. Additionally, if you enter a behind-the-meter PPA for the energy generated by your old PV solar system, you get a six-month payment holiday for the energy produced by your system.
As well as the cash payment and zero cost solar energy for six months, you won’t have any associated solar operational or maintenance (O&M) costs. You also have the option to repurchase your PV system at a later stage.
We developed this program in partnership with Juice Capital, Australia’s largest owner of commercial behind-the-meter solar PV systems. Juice Capital’s offers a range of financial products and solutions for Australian businesses seeking to reducts costs by utilising clean energy.
How the Solar PV Buyback program works
1. Juice Capital buys your existing commercial PV system at an agreed price, being the depreciated price on your balance sheet
2. You receive this as a one-off-cash payment
3. You enter an energy plan with Juice capital which includes:
a) Free solar energy for the first six months
b) Discounted solar energy, billed monthly, for an agreed term (7-25 years)
c) Juice Capital provides the system maintenance
4. You can repurchase the PV system from Juice Capital at a later stage if you like
Key benefits for your business and its cash flow
• One-off capital injection
• Six-month payment holiday for energy produced by your system
• Discounted solar energy for the remainder of the PPA term to offset grid costs
• No operation and maintenance costs for the period of the PPA
What types of small businesses qualify?
• Solid underlying business – ABN with at least two years registered for GST
• Projects in low risk industry sectors
 Any project exposed to the hospitality, accommodation, construction and retail sectors are considered high risk at this point and will be difficult to approve until the current market conditions are on the recovery.
What solar systems are eligible?
• 20kW upwards
• Less than five-years old
• Export no greater than 15% or negotiated feed-in-tariff
• Unencumbered – no debt – otherwise formal payout figure from financier are required.
The process in detail
1. You complete a one-page Juice Capital application form with details of yourself (ABN or ACN), the site, and distributor of energy at the site.
2. You provide details of the system including system size, original invoice, original installer details and installation date, equipment specifications, proof of small-scale technology certificate (STC) claim, warranty package, product used, recent energy bill, solar analytics or inverter data file.
3. You provide two years of financial details above $100,000 and directors’ guarantee.
4. Juice Capital reviews application including running credit checks on the business, title search on the property and due diligence on the system. Usually this process only takes a few minutes. Larger systems and businesses in riskier industries may require financial documents to confirm credit approval.
5. Juice Capital sends a Formal Offer – a simple proposal with energy rates and term (typically between 10 and 25 years) based on its bespoke calculator to assess energy costs and provide PPA costs.
6. A minimum term is 5-years on a 7-year contract and 7-years on a 10-year contract. This is required to ensure a commercially viable outcome for both you and Juice Capital.
7. Juice Capital works with installer to carryout system checks and establish required works.
8. Generation check/warranty check/PPSR check.
We can help you with much of the application process and the contracts are executed digitally. We are really excited to be able to help you turn your rooftop solar into cash at a time when cash is king.
If you want to learn more about unlocking cash and boosting your business cash flow, talk to your Account Manager today! Or call us on 1300 964 589.