An Australian Solar Startup wants to Raise Almost $5 Million in Crowdfunded Equity
Australia’s retail electricity market is processed to have another new company – DC Power Co., but there is a slight difference.
It’s been set up in order to provide to Australia’s 1.7 million solar households and also expected to be co-owned by them.
This is the first ever solar-focused energy retailer, which is coming to Australia and is looking forward for potential investors.
DC Power Co– plan (Solar-focused energy retailer) is all set to introduce equity crowded-source funding campaign.
Subsequently, before investing, registration will be done, which are now open.
According to the company spokesperson, not a single power company in Australia is at present, focusing on servicing Australia’s solar households such as guaranteeing the correct information as well as understanding their basic requirements, technology and billing systems are in place.
A spokesperson spills, “At DC Power Co. we believe in transparency and always doing right by our customers”
“And what better way to build a customer-centric company than to ensure the needs of the client are the needs of the shareholder. A long-term, viable strategy, where all involved benefit.”
Unlike traditional solar power companies, DC Power Co. states that it will be “kilowatt-indifferent”.
Further, he added, “The core of our profits will not be made by upselling unwanted energy, but by optimizing your energy consumption and production.”
Based on that data, Solar Analytics have estimated that around 1.7 million Australian households have already owned rooftop solar panel that’s almost 20% of Australian households, contributing to the rapid growth in solar market.
According to company co-founder and CEO Nic Frances Gilley, “Homeowners have done the right thing and spent money installing their solar power system, but aren’t being supported in getting the best out of it”.
Further, he added, “We believe a significant number of people, tens of thousands of households, don’t even realize that their system isn’t turned on or working, which means they could be losing out on about $1000 every year”.
Additionally, experts also predict around 45% of Australian households will have solar by 2050.
DC Power Co. is considered as one of the first companies to take benefits of new ASIC legislation which allows the companies with less than $25 million assets to raise up to $5 million in funds from the general public in return for equality in the enterprise.
DC Power Co. gets government’s fund in order to help plan and research what an energy company accompanied by solar should offer the public.
It’s now looking for Australians to invest $50 to fund the next stage between 35,000 and 100,000.
The main goal is to build a solar-focused energy company that can liftoff at a large scale.