Solar Quotes founder tips Origin acquisition to boost rooftop rollout

Solar Quotes founder Finn Peacock expects Origin Energy’s acquisition of the solar installation comparison service will accelerate the rollout of rooftop PV in Australia and the electrification of the nation’s energy system.

October 22, 2024 David Carroll

Image: Finn Peacock

Origin Energy, Australia’s largest energy retailer with 4.7 million customers, has struck a deal with Solar Quotes founder Finn Peacock to purchase the rooftop PV installation quote comparison service.

While the financial details of the transaction remain subject to a non-disclosure agreement, Peacock said he is expecting to transfer ownership of the Adelaide-based company to Origin on 1 December 2024.

“I’m not retaining any control or shares,” he said, adding that he will be “sticking around for a few years to help with the transition and make sure Solar Quotes stays on track with good advice, great service, and access to the best installers in Australia.”

The acquisition has been met with skepticism from some in the industry who suggest the shift in ownership will dilute or dissolve Solar Quotes’ capacity to deliver independent advice.

Peacock has however played down those concerns, highlighting that Origin has informed him that Solar Quotes will remain an independent business unit, run by its existing team.

“Although we will be owned by Origin, we won’t be integrated with their main business,” he said. “We’ll remain an independent business unit. Nothing will change in terms of how we recommend installers, solar panels, batteries.”

“I totally understand the skepticism, I really do. I’m as distrustful of big corporates as anyone but the guys from Origin have promised us creative independence and I’m confident they are going to deliver on that.”

Peacock said while he understands that not everyone will agree with his decision, he believes that the transaction will help more people electrify their homes and speed up the transition to renewables.

“This sale puts Solar Quotes in a position to have a bigger impact,” he said. “The next challenge isn’t just getting more panels on roofs, it’s about electrifying entire homes and integrating everything with an increasingly renewable grid.”

“With Origin’s footprint behind us, we’re going to get more eyeballs on Solar Quotes, more people getting comfortable with solar, batteries and home electrification. That’s got to be good.”

Origin, which plans to shut down its solar installation business, said the acquisition of Solar Quotes is a “perfect fit” with the gen-tailer’s energy transition strategy.

“The maturity of our business and the solar market itself presents us with an opportunity to enter a new phase in our solar journey and help accelerate electrification for Australian homes,” the company’s head of retail, Jon Briskin, said.

“Solar Quotes has helped hundreds of thousands of Australians save money while lowering their emissions, which is a perfect fit with Origin’s ambition to lead the energy transition through cleaner energy and customer solutions.”

Briskin reaffirmed that Solar Quotes will continue to run independently with Peacock and his team continuing to offer advice and access to the largest network of solar and home installers in the country.

“And Origin customers will benefit from access to a network of over 400 installers that provide independent advice and quotes for their solar, batteries and heat pumps,” he said.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.