Sydney-headquartered modular solar specialist 5B will receive up to $46 million through the federal government’s manufacturing initiative Solar SunShot to produce 200 MW of its Maverick units over the next three years, at its Adelaide, South Australia factory.
The grant comprises a production credit of up to $26 million based on 5B’s Australian-based production for large-scale solar deployed in Australia, and a $20 million capital grant to implement technology design improvements to the company’s solar deployment technology system.
Issued through the Australian Renewable Energy Agency (ARENA), the additional Maverick units made will produce the power equivalent to 40,000 homes and support 50 jobs in roles from assembly line workers through to specialist solar engineers.
The Maverick system is made from prefabricated panels folded like an accordion into shipping containers, which enables them to be deployed up to 10 times faster and at significantly lower costs.
Image: 5B
5B Chief Executive Officer David Griffin said this funding would drive down 5B’s Australian production costs by 25% and accelerate 5B’s ability to offer large customers lower cost energy alongside the safety, speed and land efficiencies unique to the 5B Maverick solution.
“It means we can further strengthen our team, creating opportunities from the factory floor, in our field deployment crews, and specialists working on gigawatts of solar farm designs,” Griffin said.
5B has more than 100 commercial projects around the world, including a 69 MW utility-scale project in delivery in the US, and pursuit of further grid-scale projects will be facilitated by the funding announcement.
ARENA Chief Executive Officer Darren Miller said ARENA is excited 5B is the first project under the Solar Sunshot Program to support solar manufacturing in Australia to accelerate the renewable energy transition.
“This project represents the best of homegrown Australian technology and innovation in solar, and we are proud to support 5B’s goals of making solar deployment faster, cheaper, safer and more efficient,” Miller said.
“ARENA has a vision of reaching 1 TW of installed solar PV in Australia by 2050 to achieve our renewable energy ambitions. Projects like this are what we need to get there.”
Federal Minister for Climate Change and Energy Chris Bowen bringing solar manufacturing to Australia is critical for unlocking the country’s future as a renewable energy superpower and securing the job of the future.
“As demand for solar surges, homegrown technologies like 5B Maverick help us make solar supply chains stronger and build Australia’s future right here,” Bowen said.
“Only the Albanese Government is backing businesses across the country to seize the opportunity of a Future Made in Australia.”
Image: 5B
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