5B has secured AUD 46 million under Solar Sunshot funding to boost its Maverick production capacity
It will enable an increase in the company’s manufacturing capacity to at least 200 MW of Maverick units over the next 3 years
It sees the funding driving down the company’s Australian production costs by 25%
Australian solar technology company 5B has become the first in the country to secure up to AUD 46 million ($29.5 million) in funding through the federal government’s AUD 1 billion Solar Sunshot Program.
The grant funding comprises up to AUD 26 million ($17 million) in production credit and AUD 20 million ($13 million) in capital grant to implement technology design improvements to its PV deployment technology system.
With this funding, 5B will be able to expand the manufacturing capacity of its Maverick automated solar deployment system to produce units worth at least 200 MW at its Adelaide factory over the next 3 years.
5B has designed Maverick with pre-fabricated, pre-wired panels that are folded like an accordion into shipping containers. This design can facilitate up to 10 times faster deployment while reducing labor costs.
David Griffin, 5B CEO, says this funding will drive down the company’s Australian production costs by 25% and accelerate its ability to offer large customers more affordable energy. He added, “It means we can further strengthen our team, creating opportunities from the factory floor, in our field deployment crews, and specialists working on gigawatts of solar farm designs.”
Australian Minister for Climate Change and Energy Chris Bowen said, “As demand for solar surges, homegrown technologies like 5B Maverick help us make solar supply chains stronger and build Australia’s future right here.”
Solar Sunshot is Australia’s flagship scheme to support the country’s solar PV manufacturing industry. Announced in March 2024, it will offer funding as production subsidies and grants for domestic solar PV production to reduce reliance on foreign supply chains (see Australia Announces AUD 1 Billion For Solar Program).
Phase I is divided into AUD 500 million under round 1A, with a focus on PV manufacturing innovation, under which 5B has been awarded. This round is now closed. Round 1B offers AUD 50 million to support PV manufacturing studies, including feasibility and engineering studies, and is still open to projects (see Australia Officially Opens Phase I Of Solar Sunshot Program).
A December 2024 report by the University of Sydney recommended that the Solar Sunshot program shouldn’t be geared towards setting up domestic PV manufacturing capacity alone, but also encourage import diversification and strengthen links with manufacturers in Southeast Asia, India and America (see Australia Must Invest In Import Diversification Strategy For Solar Modules).
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