Melbourne solar panel users ditching major retailers for a crowdfunded energy provider

Do you feel dudded by your energy provider? Savvy solar users are turning to people power, joining a new crowdfunded energy scheme.

Brunswick West resident Georgina O'Farrell has signed up to crowdfunded solar-focused energy provider DC Power Co. Picture: Hamish Blair

SOLAR panel users who feel they are being short-changed by energy providers are turning to people power as part of what’s believed to be the world’s first crowdfunded solar energy retailer.

Since launching last month, Melbourne-based DC Power Co already has more than 13,000 shareholders, with investments ranging from $50 to $10,000.

It aims to start retail operations by the end of the year.

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Co-founder Nic Frances Gilley said investors not only became shareholders but, provided they supplied their energy bill, they would also receive a free solar performance check and advice slashing power bills and using solar energy more effectively.

“Until now, solar users have had to make do with whatever their energy company has offered them, with very little transparency about how much they are saving or could be saving, because their business model relies on customers consuming more energy,” Mr Frances Gilley said.

“DC Power Co offers customers transparency, using new technology and our combined management expertise to unlock potential savings and demystify how solar works.”

Non-solar users and renters are also able to invest in the company.

Investor Georgina O’Farrell said she had signed up with DC Power Co due to a lack of information about how much power her household had been using versus how much her solar panels had generated.

“From looking at my bill we should have a credit as we had produced enough energy to cover what we were using but we somehow had a bill of $17, which seems to be bonkers,” Ms O’Farrell said.

She said many people installed solar panels because they wanted to do right by the environment, but could end up being gouged by their energy providers.

For more information visit dcpowerco.com.au