Rinnai Australia, a subsidiary of the Japanese appliance manufacturer Rinnai Corporation, has ventured into the solar PV and energy storage market by acquiring Smart Energy Group. Smart Energy, a Clean Energy Council-approved retailer established in 2016, specializes in solar energy and energy storage. The company employs over 200 staff and operates offices in Byron Bay, Newcastle, Sydney, Hobart, Adelaide, Wollongong, Melbourne, and Brisbane.
The acquisition marks a significant milestone for both companies, enhancing their capabilities in the renewable energy sector, according to Rinnai Australia. The move comes as interest in the Australian rooftop solar PV sector rises, with consultancy SunWiz reporting 302MW of installations nationwide in July 2024.
Rinnai Australia aims to leverage this acquisition to create a comprehensive decarbonized solutions portfolio, which already includes technologies such as green hydrogen. The company has explored the use of green hydrogen for heating in Japan and plans to introduce this clean energy carrier to the Australian market.
In addition to green hydrogen, Rinnai Australia offers other decarbonized technologies, including heat pumps and geothermal systems, providing renewable energy-powered heating, cooling, and hot water. The integration of Smart Energy Group will bolster Rinnai's renewable energy generation assets, particularly in solar PV and energy storage systems.
“This strategic move enables us to accelerate the adoption of renewable energy technologies across Australia, offering fully integrated solutions that combine energy efficiency with home comfort and convenience,” said Lucas van Raay, managing director of Rinnai Australia.
