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A call to arms to disrupt the energy industry in Australia

Posted 4 years ago in Small business by Tiana Barns
Posted by Tiana Barns

Nic is a social entrepreneur, marketing campaign specialist and founder of environmentally focused startups, Easy Being Green and Cool nrg. Nic is responsible for the strategy, delivery and risk management for DC Power Co.

A few years ago, I put solar panels on my roof in the hope of saving money and helping the environment.

But I couldn’t figure out if they were working. I didn’t know how much money I was saving – or if I should be making any – and I had no way to understand how to optimise my energy consumption.

No one, not even my energy retailer, could give me this information. Households like mine need a different kind of service. The old system just doesn’t work for them.

1.7 million households in Australia have solar panels on their roofs. We generate more solar power than any other country in the world. But our current system does not support those households, so I wanted to do something different and build the power company of the future.

Technology and its ability to help bring disruption

I decided to launch DC Power Co after seeing this gap in the market. I had the aim of becoming Australia’s first energy retailer dedicated to servicing households with solar energy.

Every surface that the sun touches in the future will generate power. As energy users and generators, we need to be in control of that future. Technology is going to help get us there.

From the outset, we knew we needed technology to progress with us on our journey from a startup to a full-blown energy retailer. As with most startups, flexibility and the ability to work remotely was crucial.

When you are a David tackling a Goliath, you need to be quick and nimble. It takes great ideas to disrupt any established market and there’s no telling when or how these ideas will appear. So cloud systems, especially Xero (as a system and inspiration) were the only way forward for us.

Challenging the status quo via crowd-sourced funding

The energy sector is enormous and aged, with its roots firmly entrenched in our society. So, to disrupt it, we needed not only a great idea, but most importantly, people power to execute it.

Last year, equity crowd-sourced funding became available in Australia. We thought this would be the best way to enter the market at scale, and therefore with a higher chance of success. After receiving an investment from ARENA and matching it with money from private investors early this year, we’ve worked to launch the campaign that will help us become the world’s first equity crowd-sourced funded energy retailer.

Investors will be able to have an input in how the business is run. Once the campaign is successful, we’ll appoint a board member from the campaign investors, and keep the people-powered vision alive.

Calling Australians to be the power

At our core, we are gearing up to disrupt a static and no longer relevant, one-size-fits-all industry. Therefore, using people power, and with nearly 50% of Australian households predicted to have solar by 2050, there’s never been a better time to bring the power back to the people.

With over 11,000 investors, we are the world’s largest crowd-source equity campaign launching a business. Currently, we are just over 50% funded, with our goal being to raise $1.75 million by the 15th of April.

If you want to be the power and help us change the way energy is done in Australia, head to https://www.onmarket.com.au/offers/dc-power-co/.

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