National Renewables Network secures $13.5m funding

The news: Solar and battery plan startup National Renewables Network has landed $13.5 million in funding. NRN partners with energy retailers to offer solar and battery infrastructure to households and businesses, which pay for solar power they use and can buy-out the system at a later date.

The numbers: NRN said the funding would back the installation of 600 solar battery systems over the next few months. The startup claims their average customer saves between $750 and $900 per year compared to their former energy plans.

The background: The venture is being spearheaded by Alan Hunter, former co-founder of Splendid, a subscription provider for rideshare drivers.

What they said: "As an energy infrastructure business, NRN is challenging Australia’s current linear, expensive and outdated electricity supply chain by upgrading homes and businesses to produce, store and use their renewable energy,” Hunter said in a statement.