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Government cuts investment for household and small business solar projects

The federal government has directed the Clean Energy Finance Corporation (CEFC) to only invest in large industrial-scale projects; and SmartCompany reports that this could put SME’s that specialise in installing solar panels under increased pressure in an already tricky market. There have been a ‘spate of collapses in the the solar industry’ recently and the fear is that this will lead to more.

“What the CEFC did was provide a financing solution to allow lower income people, small business and community groups to finance their solar,” John Grimes, chief executive of the Australian Solar Council,

However Jenny Paradiso, co-founder and managing director of Smart50 finalist Suntrix told SmartCompany, that whilst the government’s decision wasn’t helpful, as Suntrix has not been offering CEFC financing options to its clients, the move wouldn’t cripple her business or others like it. She also added that there are other financing options available to households and small businesses that want to invest in solar.

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