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SunRun's Presentation
33
MIB - CQU
Countries that didn't fit
our criteria
SunRun's Presentation & International Perspectives Analysis
SunRun Overview:
Sunrun
Service
Sunrun's Business Service & Overview
- Sunrun was co-founded in January 2007
- $2 million in installation everyday
- Install a system every 10 min
- Already well install in various american states
- Major business on this market
- Partnership with big company such as Costco
How it works ?
Countries that did not fit our criteria:
France/Germany : Huge competition; Market are overwhelmed by solar panels distributor; Costly installation; High labor cost
Vietnam : Shortcomings business climate, Incomplete reforms in public sector, Inadequate infrastructure levels, Fragile banking system, weak financial structures, complex business environment, non-transparent legal framework
Morocco : dependent on agriculture and EU, social and regional disparities, high poverty rate, weak productivity, High unemployment, , market for small/ medium projects not yet enabled
Egypt : Poverty and high unemployment, Persistent security issues in the Sinai region, , vulnerable Banking system to sovereign risk, Weak manufacturing export
Intensity of competition
Country choice : Australia, why?
Political, Legal
& Cultural risk
Country choice : Australia
- High solar exposition
- Australians love rooftop panels
- Australia have solar panels on residential & commercial building
- Australia ranked 43rd/115 countries (2019 Energy Transition Index by the World Economic Forum)
- 2 million households in Australia installed rooftop solar panels (2018)
- If this rate of solar installations remains, the country will reach 50% renewable capacity by 2025
- Increasing consumers and businesses switching to renewable energy to reduce their power bills
Government Policy
Consumer awareness
& Public acceptance
1
Intensity of competition
- Solar Power market is expected to grow at a CAGR of more than 9% (2020-2025) increase
- Australia’s solar market is a multi-billion sector
- Competitors such as SunPower, LG, REC, Qcells and Winaico
- If we compare Australia to other countries the competition is not as intense as in Germany, Japan ...
2
Political, Legal, Economic & Cultural risk
Low Political / Legal risk :
- Political stability
- Available and reliable corporate financial information
- High institutional quality
Low economic risk :
- Economic growth
- Very good business environment
- One of the 13th largest economy
Lower Cultural risk :
- Australia and the US share various cultural characteristics
3
Government Policy
Australian governments at federal, state and local levels :
- Have promoted the increase development of renewable energy
- Effort to reduce greenhouse gas emissions
- Policies supporting the development of large-scale projects
- Financial incentives to stimulate the adoption of residential solar systems
4
Consumer awareness & Public acceptance
- High education and formation on renewable energy
- People supporting renewable energy development
- Schools and business having solar panels
- Business concerns
- Some interesting numbers:
Pros and Cons of each entry mode :
Pros and Cons of
each entry mode
Our final recommendation in Australia : Joint-Venture
Our final recommendation :
Joint venture
Seems the best choice :
- Services characterized by intangibility/inseparability of production & consumption
- US and Australia have a similar culture (lower risk of “divorce” between partners)
- No huge cultural and language differences (Cultural barriers common cause of joint venture failure)
- Better contractual joint venture (Short-term deal & Strategic alliance)
Recommended partner : ASM
Recommended partner : ASM
Partner - Australian Solar Manufacturing :
- Australian Solar Manufacturing [ASM] is a Proprietary Limited Company
- Exclusively Australian owned and managed Company
- Strategic alliance (access to New Markets and Distribution Networks for both partners)
- ASM will give a synergic advantage to the new company
- ASM contributes with its products, SunRun with its services and installation
- Mutual agreement