No electricity bills for seven years – but there’s a catch
A solar energy company is offering free electricity for seven years – but it comes at a hefty upfront cost.
Reposit Power’s solar panels take energy from customers’ roofs and distribute it evenly to the solar batteries in their homes.
The system works like a power grid, cutting out the price of electricity for the average lifetime of a battery, which is currently seven years.
“Our secret sauce is that we’re able to control solar and battery systems,” Dean Spaccavento, Reposit Power CEO said.
“It allows us to guarantee no electricity bill for seven years.
“We share that energy around, we find people who need it, we find people who have it and we make sure that everybody’s got what they need and nobody pays a bill.”
“We’re talking about seven years of life minimum.
“That is a lot of time for technology to move on, for things to get better and cleaner.”
The solar company has thousands of customers along Australia’s east coast, meaning there will always be sunlight somewhere powering the network.
However, the $20,000 upfront installation cost could deter potential customers.
Aldo Mostacci said the upfront cost initially scared him, but the battery would pay for itself after four years.
“What I was more worried about was where it (the price) was going and how much it was going to increase over the coming years,” Mostacci said.
“I don’t have to worry about turning the air conditioner on or running the dryer if it’s raining.”
After seven years, customers will be asked to refresh their battery, which currently costs around $8000.
Con Hristodoulidis, Clean Energy Council spokesperson, said customers should read the fine print before agreeing to any deals.
“They should shop around and get themselves two or three quotes, secondly they should look for the blue tick that ensures that the retailer is both accredited and reputable,” he said.
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