A RENEWABLE energy scheme in which investors pay for a property’s solar panels upfront and profit later has its first project on the peninsula.

Terrey Hills business Aeronaut Automation, which makes industrial cutting systems, has 60 panels (15kW) installed on its roof to lower its energy costs.

Co-owner Geraldine Clark said Aeronaut explored solar for cost and environmental benefits.

This was after it discovered a scheme promoted by installer Smart Commercial Solar.

The installer has partnered with eco-minded non-profit group ClearSky Solar Investments.

The company arranges up to 20 investors to share the cost of installing the panels.

The installation and maintenance costs in this instance were $24,700.

media_camera (from left) Christina Kirsch (ClearSky), Iain McGregor (Smart Commercial Solar) and Geraldine Clark (Aeronaut Automation). Picture: Troy Snook

Aeronaut pays the investors for its solar, based on estimated energy use, over five years, and this delivered investors a 7-9 per cent annual return on investment, said Smart Commercial Solar partner Iain McGregor.

After five years Aeronaut owns the panels and will not pay for the energy.

The investors’ ownership of the panels for five years, and contract with the installer means both have a financial interest in the project working well.

Mrs Clark expected to save 40 per cent on power after the five years. Aeronaut will continue to use some electricity.

ClearSky director Christina Kirsch said the scheme delivered shared benefits – cheaper energy and returns for investors.

“What will make people take up renewable energy? It’s the hip pocket.”