The business case for community solar projects

The UNE SMART Region Incubator hosted The Business Case for Community Solar Projects on 27 September 2024 at NOVA in Armidale. The event brought together industry leaders, including David Heine, Emma Stilts, and Gerald Arends, to discuss community-led renewable energy solutions, with a focus on local economic development.

Emma Stilts and Gerald Arends, Directors of the Manilla Solar Project, shared insights into the development and operations of this community-owned solar initiative. David Heine, CEO of Regional Australia Bank, provided a strategic financial perspective, discussing potential funding mechanisms and long-term sustainability.

The session explored opportunities for local businesses to engage with the renewable energy sector, highlighting the $15 million development budget of the Manilla Solar Project. Attendees gained practical insights into power purchase agreements (PPAs) and how such partnerships can mitigate energy cost volatility while enhancing businesses' environmental, social, and governance (ESG) profiles.

A key takeaway from the discussion was the replicable nature of the Manilla Solar model, which offers a framework for community ownership and sustainable economic growth across the New England and North West region. The event concluded with a networking lunch, fostering connections between industry, researchers and stakeholders in the renewable energy space. This event highlighted the opportunity for more community-led projects to unlock regional opportunities and empower local businesses, setting a strong example for future renewable energy initiatives.