I’ve never heard of DC Power Co, who are they?
DC Power Co. are new. They are building the world’s first solar focused and “prosumer”- owned energy retail company.
DC Power Co. are looking to do things differently, right from the start. They will tailor their services specifically for people with rooftop solar or for those who want to go solar.
Currently almost 1.8 million Australian households have rooftop solar panels. That’s almost twenty percent of Australia. Experts predict this figure could rise to 45% by 2050 - that’s a massive market that is not properly catered for at the moment.
DC Power Co. wants to change that, with a revolutionary business model which puts the power back in the household’s hands. It’s a model built on reframing the energy market by attracting “prosumers” instead of consumers.
This means that DC Power Co. won’t try to sell their customers more and more energy at higher and higher prices. Rather DC Power Co. will attract prosumers, who (for a monthly subscription) will not only save money on their energy bills, but also be able to properly sell their excess energy back to the grid by providing important advice on what to do to get the best out of solar.
Lack of information in the solar energy market is a massive problem as it means that the current big energy retailers don’t have an incentive to give full, transparent information on solar to their customers.
Indeed, KPMG research found that:
- 57% do not know if their solar system is working.
- 41% thought their solar panels had less than a ten-year warranty. The minimum warranty is 15 years.
- 31% don’t know the capacity of their solar panels.
DC Power Co. will be the first energy company to properly service this large (and ever-growing) market.
So wait, are they non-profit? How much of the company is owned by prosumers?
DCP are a social enterprise. And are for profit. At this stage it is hard to say precisely how much of the company will be owned by solar lovers like you, but if they hit their goal of 100 000 then collectively, solar lovers will be the majority shareholder. Having “prosumers” as shareholders, will help ensure DC Power Co. stay solar focused and aligned to what solar owners need.
Why do I need to buy shares, can’t I just sign-up for an electricity account?
You don’t have to buy shares. Solar Citizens is merely bringing the opportunity to do so to your attention. Buying a share will not make you a customer. That will be a separate process. At the moment, DC Power Co. are seeking Australians who love solar and are interested in building a solar focused energy company at a scale that will disrupt the status quo in the energy market right now.
How are DCP different? What deals and services will they offer to solar owners that’s different to other retailers?
Their profit model is different - they are not reliant on a customer using lots of energy to make a profit. Instead, they operate on a membership model, where customers will actually be members and pay a monthly membership fee. This means that DC Power Co. customers/members will see savings from paying wholesale prices for their energy. This is on top of the savings they can make from the insights and advice they receive from DC Power Co. on how to make the most of their solar and reduce their energy use. If you don’t have solar yet, you get in-depth advice on which solar panels to buy to get the best performance to save money.
Will they have 100% renewable energy?
Yes they will have that option for customers to select. Their power will come from the grid and they’ll have a green-power option.
Which states/territories will DC Power Co. operate as an energy retailer?
They hope to operate in as many states and territories as possible, but some are off-limits due to the nature of the electricity markets there.
They can't be an energy retailer in WA or NT because it is not contestable there, being limited to single government-owned utilities. Similarly for far north QLD, because of the government-owned Ergon Energy Territory.
As for Tasmania, they’d love to, but the incumbent government-owned electricity provider controls the market, so it will take work/time to design a competitive offer there.
Why are you promoting DC Power Co. over other companies/my company? What’s a non-profit doing promoting a big corporate?
Solar Citizens has strict guidelines around who we enter into commercial partnerships with. It's something we do only occasionally and always on a non-exclusive basis. Solar Citizens only partners with a company or organisation that is aligned with our vision and values and which is offering a service that we believe can benefit our supporters. Of course, in deciding whether to apply for shares in this Offer, you should consider the Crowd Sourced Funding (CSF) offer document for the Offer and the general CSF risk warning. Solar Citizens can't give you any recommendation or opinions about this offer, just the facts.
Is/how much is DC Power Co. paying you to promote them?
Yes, we have a commercial arrangement in place with DC Power Co. The company meets our strict commercial partnerships guidelines, in particular aligning with our goals of protecting and growing solar in Australia.
For every $50 invested in this offer by Solar Citizens' supporters, Solar Citizens receives $5 which goes toward our campaigns to protect the rights of solar owners and grow renewable energy in Australia.
How do we know these guys are trustworthy?
In deciding whether to apply for shares in this Offer, you should consider the Crowd Sourced Funding (CSF) offer document for the Offer and the general CSF risk warning.
We encourage you to read the CSF offer document as soon as it is available. This is a document required by the Australian Securities Investment Commission (ASIC) and contains a great amount of information that may address your concerns.
Solar Citizens can't give you any recommendations or opinions about this offer, just the facts.
By going to the DC Power co page, you can learn more about who the founders are.
I don’t have solar. Can I still invest?
Yes, absolutely! At this stage DC Power Co are looking for Australians who believe that there should be a better way to use energy, and want to help build an energy company that believes that too.
What about a public interest retailer? Aren’t you pursuing that? Why are you promoting DC Power Co. when you want a public interest retailer?
Solar Citizens believes we need a public interest retailer and retailers that look after the needs of solar owners and those who want to go solar. We want to see many more solar focused retailers enter the space, as many as it takes to make energy affordable again. We also want to see more retailers pursuing an Australia powered by 100% renewable energy, like DC Power Co.
What happens if I register my interest?
On the day the offer opens, DC Power Co will send you an email and let you know its open before they run their big bang campaign.
What is equity crowdfunding?
For a small initial investment, you can own a part of DC Power Co. that helps them build the company from the ground up. Then, when they are fully functioning you have been one of their first owners before they start to scale up in size.
Why hasn’t this been done before?
Before September 2017, equity crowdfunding was not supported by the Australian government. But then new legislation was passed, making it a new way to create a company.
And thus, the opportunity for DC Power Co. to change the energy market in Australia for the better became a reality. But they didn’t just want to build a company and sell it to customers. Because that’s a short-term idea. Instead, they wanted to find customers first, and build the company with them as owners. A long-term strategy where everybody benefits.
What do I get for each $50.00 invested?
You receive 100 shares in DC Power Co which gives you a say in how the company is run and future potential benefits.
How can I be sure that I won’t lose my investment?
Registering your interest only means that DC Power Co. will contact you when the offer goes live. Once it goes live, you will have the opportunity to invest your money in the company in exchange for shares. However, DC Power Co. requires a minimum of 35,000 people to invest. If they do not reach this minimum, your investment will be safely returned to you.