Hi I'm sparky
My colleagues say I’m the Genius behind Genius Energy.
I’m known for having a great personality. I’m also known for being super bright and have the answers to all commonly asked questions.
You can buy one or more units via our platform and that will make you an energy generator.
You then use your own electricity to run your household or business. You can use it in multiple sites. When you want to move house, tell us via the app and the energy moves with you.
Alternatively you can sell your energy on the open market. Tell us via the app whether you want to sell it all, sell some or sell the daily surplus
You may cash out your units via the Genius Energy trading platform. There is an easy-to-follow process in the app
You will need to nominate the number of units you wish to sell and the date on which you want the sale to take effect.
You will also need to agree to the terms and conditions of sale.
The resale price will be governed by market demand.
Genius Energy is a holding company that services and manages a number of solar energy farms on behalf of unit holders.
The Genius Energy Infrastructure Unit Trust owns the farms and securely holds the investment of unit holders.
Each unit holder owns the rights to a portion of the generation capacity. This entitles them to all power generated using that capacity. The power may be used by the owner (possibly, tax free) in any location they choose; or, sold on the wholesale market through the Genius platform.
The units can be resold via the Genius Energy platform. Based on a yield of between 10 and 15%, we expect that the free float price of these units will be $1.50.
All Genius Energy solar farms have batteries to capture the energy generated. You do not need separate battery storage.
Genius Energy also offers a generation alone option for those who use their energy in daylight hours or own a local battery
You will pay transmission costs for the energy you use. Transmission costs are set by the regulator and can vary depending on your location.
Even though you are using your own electricity, you will still need to have an account with an energy retailer to expedite delivery.
Genius Energy is expected to be an energy retailer in time for launch. This may change on a state by state basis.
Genius Energy will also have a number of arrangements in place with other retailers. These arrangements will allow you to access Genius Energy and any other services that the retailer provides.
Transmission costs are set by the regulator and will vary depending on your location. Your bill may indicate who your distributor is and the prices they charge.
Alternatively, the regulator can help you to identify your distributor here:
Via the app.
You can nominate up to ten sites. Be sure to have your NMI handy. It can be found on your electricity bill.
We can sell your energy for you, via our platform, into the wholesale market. Tell us via the app whether you want to sell it all, sell some or sell the daily surplus.
That can be a source of income for you. If you choose the option to see, we project that your yield on investment will be around 15%
You may cash out your units via the Genius Energy trading platform. There is an easy-to-follow process in the app.
- You will need to nominate the number of units you wish to sell and the date on which you want the sale to take effect.
- You will also need to agree to the terms and conditions of sale.
The energy platform will sell your electricity on the wholesale market like any other electricity provider.
Because we have batteries to store power, Genius can sell if on at the most favourable times of day. This means that we can usually get better prices than generators who are forced to sell at the same time of day as the power is generated.
Tax implications have not been fully resolved:
- The energy you use for your personal needs may be tax free. This is to be confirmed before launch date.
- If you sell your energy, the ATO will treat that as a source of income and you will be taxed on that income.
- Energy that is packaged into another offer and then sold, is an input to production. That is the same as selling it. Revenue so obtained would also be taxed.
Via the app.
Remove the address that you no longer want and add the new one. The app will ask you the date on which you want the changes to take effect. You can nominate up to ten sites. Be sure to have your NMI handy. It can be found on your electricity bill.
Add your friends, family and business to the list. You can nominate up to ten sites. Be sure to have your NMI handy. It can be found on your electricity bill.
Genius Energy will hold your funds in a unit trust. Investment Trusts are governed by ASIC
and offer high level of security for investors