Japan’s Rinnai Corp. has acquired Smart Energy, a supplier of solar energy and battery systems, to strengthen its presence in Australia’s renewable energy sector.
Japan’s Rinnai Corp. has announced its entry into what it described as the “surging” residential solar and battery energy storage market in Australia with the acquisition of Smart Energy.
Smart energy sells and installs solar and battery energy storage systems on residential roofs, as well as heat pumps. The vertically integrated solar technology company has thrived in New South Wales since its founding in 2016. Co-founder Elliot Hayes said it is now one of the largest residential renewable energy companies in Australia, with 15 offices and more than 300 across the country.
Rinnai, best known as a supplier of heating, cooling and hot water systems, has identified Smart Energy as the ideal vehicle as it looks to diversify its business and gain a foothold in the booming Australian solar and storage markets.
“In Australia, solar energy adoption is accelerating rapidly, driven by the national commitment to carbon neutrality, and the number of installations of solar energy systems in detached homes is soaring,” the company said. “Given market conditions, national policies and other relevant factors, Rinnai Australia has been considering the integration of photovoltaics into its operations for some time.”
Rinnai Australia Managing Director Lucas van Raay said the acquisition represents a significant step forward for both companies, expanding their capabilities and offerings in the renewable energy sector.
Van Raay said the integration of Smart Energy’s expertise in renewable energy, customer service and high-performance solar PV systems with battery storage “aligns perfectly with our vision to deliver innovative and environmentally responsible solutions to Australian households and businesses… This strategic step allows us to accelerate the adoption of renewable energy technologies across Australia, offering fully integrated solutions that combine energy efficiency with home comfort and convenience.”
Hayes said the transaction marks a new chapter in the journey for Smart Energy.
“Our new partnership with Rinnai will allow us to reach further down the supply chain and leverage expertise in the production of goods to continue to improve the quality of the products we can offer and the value we can deliver to customers” , he said.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
