Latest news with #rooftopsolar
Yahoo
2 days ago
- Automotive
- Yahoo
Quiet town beating the rest of Australia in big national race: 'Saving $6000 annually'
As Australia pushes to cut carbon emissions and reduce household bills, electrification has emerged as a key focus — from the cars we drive to the way we power our homes. But while rooftop solar is booming, the transition to electric vehicles (EVs) and fully electric homes remains modest. Nationally, just 2.7 per cent of vehicles on Australian roads are electric, according to the Electric Vehicle Council. While over 10 per cent of new cars sold are now electric, that figure still trails the UK (17 per cent), Germany (19 per cent) and Norway (over 80 per cent). At the household level, gas is still widely used, and many homes are poorly equipped to make the switch. Advocates argue the future of EVs in Australia looks bright, but in a quiet corner of Victoria's Bass Coast, one community has already quietly surged ahead, offering a glimpse of what a fully electrified future could look like. At The Cape, a purpose-built sustainable estate in Cape Paterson, more than 30 per cent of households now own an electric vehicle. Every home is powered without gas, using rooftop solar and passive solar design principles, and achieves an average eight-star NatHERS energy rating — well above the national average of 6.2 stars for new builds. "More than 30 per cent of households have an EV," Director and resident Brendan Condon told Yahoo News Australia. "Homes are 100 per cent electric with no gas connections, powered by rooftop solar, and designed using passive solar principles. This community-wide commitment to electrification, from the grid to the garage, makes [us] a national front-runner and an insight into the future of a fully electrified Australia." The estate comprises 230 residential lots, with about 140 homes completed and over 250 residents. More than 95 per cent of EV charging is done at home, helping cut costs and reduce strain on the wider grid, particularly in a regional area where public charging infrastructure remains limited. "Even in regional areas, most trips are local or to nearby centres like Wonthaggi and Inverloch, which are well within EV range," Condon said. "A round trip to Melbourne is under 300 kilometres, which is easily achievable by numerous long-range EVs now on the market." The Cape also challenges the notion that electric living is the preserve of wealthy inner-city enclaves. While upfront costs are still a barrier, residents claim long-term savings. Condon says homes that pair solar with energy-efficient design and an EV can save upwards of $6,000 annually. Once fully built, the community is projected to save more than $1 million a year. "These are 'super bill-busting' homes," he said. "That money stays in household budgets and bank accounts, which is significant in the current cost-of-living crisis." Experts agree that electrifying homes and vehicles is essential to meeting emissions targets. The Climate Council estimates that switching to solar and electric could save households $3,000 to $5,000 a year and cut domestic emissions by up to 42 per cent. It also supports energy independence and grid resilience by decentralising power generation. Still, challenges remain. Critics point to the cost of EVs and the difficulty of retrofitting older homes. There are also concerns about supply chains, mineral dependency for batteries, and whether the national grid is ready for widespread electrification without major upgrades. Empty Bunnings shelves sparks major change theory Plea to electric car owners ahead of expected 'hottest summer on record' Driver spots Tesla in shocking highway act: 'Licence revoked' But Condon believes communities like his show what's possible when sustainability is designed from the ground up. With the federal government introducing a New Vehicle Efficiency Standard in 2025 and aiming for net-zero emissions by 2050, more neighbourhoods may follow suit. "[We're] a real-world blueprint," he said. "It shows how communities can decouple from expensive fossil fuels and thrive — creating zero-emissions, climate-resilient neighbourhoods that aren't just imagined, but built." Love Australia's weird and wonderful environment? 🐊🦘😳 Get our new newsletter showcasing the week's best stories.
Entrepreneur
6 days ago
- Business
- Entrepreneur
Dugar Finance Secures USD 3 Mn to Expand EV and Rooftop Solar Financing
The fresh funds will be deployed to scale Dugar Finance's electric vehicle (EV) and rooftop solar financing initiatives across tier-II and tier-III cities in India. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Dugar Finance and Investments Limited has secured USD 3 million in debt funding from Swiss-based Symbiotics Investments, through its USD 75-million Green Basket Bond backed by British International Investment (BII). The funds will be deployed to scale Dugar Finance's electric vehicle (EV) and rooftop solar financing initiatives across tier-II and tier-III cities in India. Founded in 1987 in Chennai by Ramesh Dugar and Sonali Dugar, Dugar Finance is a Reserve Bank of India-registered Non-Banking Financial Company (NBFC). It offers vehicle financing, mortgage loans, loans against property (LAP) for SMEs, and specialised green financing products. With over 30 branches across six states, the company focuses on underserved, credit-invisible populations—having served more than 25,000 customers to date. "This capital infusion is more than just a financial commitment—it's a strong endorsement of our efforts to drive clean energy access and uplift small businesses at the grassroots level," said Ramesh Dugar, Founder and Managing Director. "With the support of Symbiotics and BII, we are better equipped to scale our EV and rooftop solar financing solutions across India's heartland—where such innovations are both needed and transformative." Dugar Finance claims to have already enabled over 1,200 customers to install rooftop solar systems and adopt EVs, resulting in nearly 3,000 tonnes of carbon emissions avoided and annual electricity cost savings of INR 2.96 crore. Its customer-centric approach supports residential households, MSMEs, and housing societies, empowering them to embrace cleaner energy and mobility solutions. With this latest funding, Dugar Finance aims to deepen its mission of combining financial inclusion with sustainability, helping India transition toward a greener and more equitable economy.
Bloomberg
09-06-2025
- Business
- Bloomberg
Sunnova Files for Bankruptcy Amid Rooftop Solar Struggles
Sunnova Energy International Inc., one of the largest US rooftop solar companies, filed for bankruptcy in Texas following struggles with mounting debt and diminishing sales prospects. The company listed $10 billion to $50 billion of both liabilities and assets, according to a court filing.
Yahoo
31-05-2025
- Business
- Yahoo
Company develops service that will install solar panels on your home for no money down — here's how it works
Homeowners interested in going solar can get panels installed without the cost of investment. Solar energy company Palmetto is helping consumers save money on clean energy through its leasing program. While the initial price tag for solar installation can dissuade some homeowners, the LightReach energy plan aims to minimize costs upfront. Palmetto described LightReach as "an innovative approach to home energy management for those who value the financial and environmental benefits of rooftop solar but want the ease of an affordable monthly plan." With LightReach, potential savings are calculated, and a specific solar plan is designed for home installation. The plan can be tracked through a personal solar dashboard. Installing solar panels provides many benefits for homeowners. According to the U.S. Department of Energy, solar panels can lower monthly utility bills and increase home value. In fact, one study showed that solar increased the value of a home by about $15,000 on average. There's also the environmental impact. Solar panels, in addition to other home upgrades like smart home technology, significantly reduce heat-trapping pollution. According to the Solar Energy Industries Association, there are more than 200 gigawatts of cumulative installed solar electric capacity in the United States. That's enough to counteract more than 222 million metric tons of CO2 emissions. In the r/solar subreddit, a solar advocate initiated a discussion about owning versus leasing through companies like Palmetto. "Let me start by saying ownership and leasing a solar system are both excellent ways to go solar," the original poster prefaced before listing pros and cons for both options. In the dozens of responses, many Redditors shared their own experiences with going solar. Some mentioned that their solar decisions were based on a variety of factors, including availability and price. "All kinds of buying/leasing solar have their positives and negatives," one commenter wrote. "The main thing I would say to keep in mind, is that you need to do your due diligence and figure out what is best for the specific situation." If leasing isn't the right move for homeowners, EnergySage has free tools that provide estimates on buying and installing panels. It's a helpful resource that makes it easy to compare quotes. What's the biggest factor stopping you from investing in solar panels? The cost The technology I'm a renter I'm already invested Click your choice to see results and speak your mind. Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
