CORE project powers up solar investment

GEELONG Sustainability’s Community Owned Renewable Energy (CORE) project is powering up with a $140,000 state government grant.

The funding will establish the first replicable community solar investment model in Victoria and enable Geelong Sustainability to coordinate community driven renewable energy projects in Geelong, starting with a 149kW solar investment initiative at the Multicultural Aged Care Facility.

Geelong MP Christine Couzens announced the funding, which comes from the second round of the Victorian Government’s $20 million New Energy Jobs Fund, earlier this month.

The community groups innovative model will see community funded solar systems being installed on the roofs of Geelong business and not-for profit organisations.

The local businesses get full use of the solar system at no upfront cost, with a community solar lease fee going back to community investors until the system is paid off.

The business is financially better off, benefiting from solar energy generation and cheaper electricity bills and at the end of the term the solar system is gifted to the local business.

The first project at Multicultural Aged Care in North Geelong will consist of a 149kW solar system with more than 500 solar panels.

It will save the aged care facility around $29,000 in the first year alone on power bills and will reduce greenhouse gas emissions by 210 tonnes of CO2 per year – equivalent to taking 60 cars off the road or planting 1,474 trees.

“This project really is win-win-win,” project coordinator Dan Cowdell said.

“Community investors get a return on investment, local organisations get solar for zero upfront costs, and of course the environment wins with more clean energy generated in Geelong.”