True Value Solar, once the biggest solar installation company in the country, is to shut up shop after its German shareholder decided to discontinue operations in Australia.
True Value made quite a name of itself (some good, some not-so good) by dominating industry rankings through its focus on the discount end of the market, before a change in ownership in 2011 ultimately led to a change of strategy.
German company M+W Group bought a controlling stake in 2011, and then completed the buyout in 2013, as part of its first push into Australia.
But the recently re-branded company – it is now known as Exyte – has decided to exit the country; Australia no longer features on its map of 20 countries in which the company, with $A4 billion in annual revenues, operates.
Australian employees – of which there are less than 30 – were advised of the impending closure earlier this week by senior management. Word spread quickly, and RenewEconomy confirmed the status on Wednesday, although a formal announcement has not yet been issued from Europe.
The good news for customers, and the industry’s reputation, is that the doors will not be closed straight away, and the company will gradually wind down in coming months and honour its contracts and warranties.
Giles Parkinson is founder and editor of One Step Off The Grid, and also edits and founded Renew Economy and The Driven. He has been a journalist for 35 years and is a former business and deputy editor of the Australian Financial Review.
This post was published on October 31, 2018 2:38 pm
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Don't buy the cheap systems , no worth the risk long term. My neighbor had a 5kw - 20 panel unit fitted about a year after I installed mine (2012 - .50 cents kwh deal ) and they have had all their panels replaced already. My little 3kw system has produced 29,000 + kwh of REAL fair dinkum QLD made Green Power !
Hi Roger. I live in Sydney and in the weekend papers out come the ads for 'Cheapie Specials'....6kW rooftop PV for $4,000 and unders or go the next level of 6kW rooftop PV with 6 kW Battery for $13,000. Really?
Would you buy the solar and battery deal Joe?
Hello again my Solarman. Answer to your question, no way. I smell a rat straight away. I've been around a little while to know that if something looks too good to be true then.... steer right away. But the problem is that people that are new to all things solar are the ones that get hooked on price and then end up with problems.
And I bet they paid for that cost themselves.
Funny about all this wammens are lazy and do shit work business, in that all the wammens are holding egg beaters, vacuum cleaner wands and hair dryers. AND all the men are holding up the power tools and things... But not one wammens is holding up an electric dildo or vibrator.
That lady holding the egg beater in the front almost looks like she has a beard under her chin ;)
Yeah she is a feminist lesbian who is transitioning to the patriarchy. The guys with the angle grinders are rather sissified... like NONE of them are holding up a decent 9" angle grinder. I like a man who can handle his 9 incher.
Hi there is true solar energy still trading.
I was watching current affairs and a person had said
They have gone bust.
Any truth in this.....im in Victoria