Providing solar power to apartment blocks is often expensive and onerous. According to Melbourne Accelerator Program (MAP) alum Allume Energy co-founder Cameron Knox, in an interview with The Australian Financial Review, current options for apartment dwellers are mostly unviable – being too expensive, too inefficient, or that required every apartment in the block to sign up.
“Your average 12-unit apartment block just won’t have the energy throughput for the body corporate or an external financier to justify the investment,” Cameron says.
Allume’s unique distribution technology allows solar power to be shared between apartment residents and is viable with as little as six customers.
Through a solar power purchase agreement (SPPA), apartment residents can access solar power at lower prices, while revenue from the SPPA is paid to the the financier of the solar panels (for example, the owners’ corporation).
More than 20 apartment blocks are on the waiting list, Cameron says. The startup is currently lodging a patent for its unique distribution technology, and is seeking $300,000 in investment.