Australian-first 100% green solar electricity deal
Strata buildings save up to $60,000 each in annual electricity
Renewable energy is expected to become the prevailing and most affordable energy in NSW, after the Government this week announced it will work towards replacing all coal-fired power plants with renewable energy by 2042. A testimony to the cost savings of renewables, 64 strata buildings in NSW will switch from their coal-generated electricity plans to a green solar electricity plan that will save them a total of $681,000 annually – up to $60,000 per building.
The three-year energy agreement was brokered exclusively for strata management provider Dynamic Property Services by its parent company, PICA Group. PICA Group is a property and strata services organisation whose nine strata management providers manage more than 200,000 lots in NSW, Victoria and Queensland. It is the first time a low-cost aggregated green solar electricity deal has been negotiated by a strata organisation exclusively for a collective of buildings.
The energy savings were enabled through the negotiating power that economies of scale can bring, to reduce the cost of utilities. When PICA Group offered the deal to 65 strata buildings managed by Dynamic Property Services, 64 took up the offer. Examples of Sydney strata buildings that will make savings after they switch from their existing energy plans include: a 217-apartment residential building that will reduce its energy bill by an estimated $59,000 annually, a 339-apartment residential building that will save about $36,000 per year, a 26-lot commercial building that will save an estimated $40,000 per year, and a Sydney building management committee that will save about $48,000 per year.