Rinnai Australia acquires solar PV and energy storage retailer

Facebook
Twitter
LinkedIn
Reddit
Email
The two companies have agreed to the acquisition for an undisclosed sum. Image: HEC Solar.

Rinnai Australia, owned by Japanese appliance manufacturer Rinnai Corporation, has expanded into the solar PV and energy storage space by acquiring Smart Energy Group.

Smart Energy, a nationwide Clean Energy Council-approved solar energy and energy storage retailer, was founded in 2016 with plans to support the Australian adoption of solar PV technologies. The group has over 200 staff with offices in Byron Bay, Newcastle, Sydney, Hobart, Adelaide, Wollongong, Melbourne, and Brisbane.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

According to Rinnai Australia, the acquisition represents a “significant step forward for both companies, enhancing their capabilities and offerings in the renewable energy sector”. Interest in the Australian rooftop solar PV sector continues to increase, with consultancy SunWiz revealing that 302MW nationwide had been installed in July 2024.

The acquisition will also help Rinnai Australia create a one-stop-shop for decarbonised solutions, particularly with its current portfolio featuring technologies such as green hydrogen. Green hydrogen for heating has already been explored in Japan, and the company plans to potentially use the clean energy carrier in the Australian market.

Rinnai Australia also offers other decarbonised technologies, such as heat pumps and a geothermal system, which grant renewable energy-produced heating, cooling, and hot water. Adding Smart Energy Group to its ranks will help add additional renewable energy generation assets to its portfolio, such as solar PV and energy storage systems.

Lucas van Raay, managing director of Rinnai Australia, said that this will help offer fully integrated solutions for households and businesses looking to decarbonise.

“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,” Raay said.

The acquisition will be completed for an undisclosed sum.

Japanese influence continues to expand into Australia

Rinnai Australia’s acquisition of Smart Energy Group comes just days after Japanese power company J-Power revealed it had agreed to acquire Genex Power, an Australian renewable energy and storage developer, in a deal worth AUS$351 million (US$229 million).

Revealed last week (31 July), J-Power secured 1,278,187,135 shares at a consideration price of AUS$0.275 and plans to expand its operations in Australia in an attempt to capitalise on the growing interest surrounding renewable energy and net zero.

Read Next

June 10, 2025
Australia’s Queensland government has confirmed an AU$2.4 billion investment in the CopperString transmission project, aiming to extend the National Electricity Market (NEM) to the North West Minerals Province.
June 9, 2025
Growing political headwinds threaten to dent US solar manufacturing and project deployment, despite a strong start to 2025.
June 6, 2025
Australia’s Solar Energy Industries Association (SEIA) has called on Australia’s climate change and energy minister, Chris Bowen, to “urgently intervene” on a rule change that could threaten to derail the uptake of rooftop solar PV.
June 6, 2025
ElectraNet has revealed that renewables supplied 100% of South Australia's electricity demand for 27% of 2024, roughly 99 days.
June 5, 2025
Policy uncertainty in the US is likely to disrupt investment in clean energy, according to a recent report from Crux.
June 5, 2025
Investment in clean energy and grids will reach US$2.2 trillion in 2025, double the expected investment into fossil fuels this year, according to data from the International Energy Agency (IEA).

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece