Frequently Asked Questions
Who is MyGreenerPlanet?
MyGreenerPlanet® (MGP) is an independent entity providing joint ownership of solar farms to individuals, companies and organisations. MGP’s motivation is to enable everyone to participate in the ownership of renewable energy generation assets and be entitled to the carbon credits and the energy. MGP is not related to any Electricity Retailer, Utility, Broker or other Institution.
How is the money I pay used?
Your payment enables you to become a joint owner in the solar farm along with others. As an owner of the solar farm you are an owner of the CleanGreenEnergy© it generates which is sold to the grid. You are also an owner of the carbon credits it produces which can be either sold, surrendered or passed to you. Your money is paid directly to MyGreenerPlanet and not any intermediary or broker. You will enjoy relatively stable returns and a hedge against rising energy prices.
Where do my regular payments come from?
Your regular payments are made from the sale of the energy to the grid. The energy generated by your sola farm is exported grid and sold to the National Electricity Market. Your solar farm is paid for the energy exported to the grid each month.
How safe is my subscription?
Your solar farm will produce electricity for 30 to 35 years. The energy produced is purely dependant on the sun shining and it does not require any other operating requirements. Your solar farm is approved by the Federal Governments Clean energy regulator Clean Energy Regulator MyGreenerPlanet complies with all legal and regulatory requirements.
How can I become a joint owner of the solar farm?
Go to the Join Page on the MyGreenerPlanet website and select the amount you want to pay and pay using PayPal or your credit card. Bank transfer can also be arranged.
What will be my return each year?
A minimum return of 4% pa will be paid quarterly. An additional amount will be paid each year dependent on the success of the renewable energy industry.
For how long do my payments continue?
For the life of the solar farm.
What is the life of the solar farm?
Expected to be 35 years.
What costs are involved?
The costs of an independent operator and manager of the solar farm are paid from the gross revenue. Their role is to ensure the solar farm is operating to its maximum efficiency, mange the sale of energy to the grid and administer the solar farm. The return is then paid to the Joint Owners. A fee is paid to MyGreenerPlanet.
Can I withdraw my money before the end of the term?
You can sell your interest in the solar farm at any time. It can be sold to third party purchases. MyGreenerPlanet can assist in this process.
How do I know what type of electricity I am using at home/office/factory?
Your electricity bill from your retailer details the amount of electricity you are using. This exact amount can be used in the Calculator on the MyGreenerPlanet website to calculate the amount you pay MyGreenerPlanet to offset your energy consumption.
How much do I receive each year?
The factors that will influence the returns to Joint owners is the amount of energy generated and the price at which it is sold to the grid. The amount of energy generated will not fluctuate greatly from year to year. The amount generated will decline at the rate of approximately 0.5% pa. The price received from the grid will vary according to the wholesale energy market. The amount paid for the operations and maintenance of the solar farm is a fixed amount each year. We understand that joint ownership of a solar farm is a big decision and not to be taken lightly. You can obtain whatever independent advice you require and we will work collaboratively with your Advisor. We conduct a detailed assessment of each solar farm prior to making the solar farm available for joint owners on MyGreenerPlanet.