What will BlackwattleSolar cost and how will we fund it?

  • So far, our consultant Wattblock (based at UNSW) has been paid through a grant of $20,000 provided to BlackwattleSolar by the City of Sydney and through the voluntary in-kind contribution of the BlackwattleSolar Project Team in conjunction with the BM Executive Committee.
  • At this stage we have cost estimates in the Wattblock report to which we have added the cost of replacing the main distribution board (which will be required anyway in the next few years) and 15% contigency so that we are being prudent. Current estimates thus represent worst case costings so that we will not be surprised except pleasantly as we expect the formal quotes to come in at lower cost.
  • The current cost estimates are:
    • solar system without batteries(but ‘battery ready’) will cost about $74,000 with a payback period of about 8 years.
    • solar system with batterieswill cost about $160,000 with a payback period of about 7 years with a City of Sydney grant.
    • Adding public car chargingwould bring the cost to about $187,000.  This could only be implemented with an investment by the City of Sydney.
  • The City of Sydney website indicates that grant funding under the innovation funding stream is available for “Demonstration projects that implement solutions to reduce resource consumption and can be rolled out at scale. Up to $80,000 is availablein this category with funds to be matched by 50% or more cash or value in-kind from the applicant.  BlackwattleSolar Project Team will apply for a grant on behalf of the Owners Corporation.
  • Other costswould be met through value in-kind contributions from the project team and the strata’s capital sinking fund. Payback periods above allow for interest foregone on the sinking fund moneys.
  • In this FAQ we can only provide cost estimates which are being further refined by Wattblock.  The estimates will be confirmed over the next two months when we obtain at least three quotations through the tender process (but without commitment to proceed at this stage).

 

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