Lease and Rental Service Combining Solar Panels and Storage Batteries for Detached Homes Expanded to Existing Construction
Dec 01, 2016
TOKYO, Japan - December 1, 2016 - ONE Energy Corporation ("ONE Energy"), a subsidiary of ORIX Corporation, announced that it has formed an alliance with Tama Home Co., Ltd. ("TamaHome") to launch a full-scale expansion of their lease and rental service (the "Service") combining solar panels and storage batteries to customers living in existing detached homes.
Through an alliance with TamaHome, in January 2015, ONE Energy began offering the Service to customers purchasing new detached homes. Beginning December 1, 2016, a full-scale expansion of the Service will include customers already living in detached homes purchased from TamaHome.
Under the Service, One Energy will provide customers with solar panels via leasing, along with new hybrid-type residential storage battery systems made by NEC Corporation via rental. The use of storage batteries in conjunction with the solar panels will allow customers to not only sell any surplus power generated to electricity utilities, but also to store the power for later use. By storing surplus daytime power and using it at night, customers will be able to reduce the amount of power they purchase from electricity utilities. Further, leveraging the economies of scale offered by the ORIX Group, which has a track record that includes solar power generating plants with cumulative capacity of more than 900 MW in Japan, as well as orders for approximately 10,000 storage battery systems, the Service is able to offer lease and rental rates that are more reasonable than retail prices.
This leasing and rental arrangement will enable customers to reduce their initial investment outlays, and reduce costs by between 10,000 to 20,000 yen per year in a standard household1 while the service is in use versus prior to use, including electricity fees and lease and rental fees.
The focus of Japan's housing market today has begun to transition from the market for supply of new homes, to one for existing housing stock, primarily pre-owned homes and home renovation. Amidst greater demand for a shift to net-zero energy housing2 in newly constructed detached homes, the importance of energy-saving measures in existing detached homes has also increased.
Given these market conditions, ONE Energy will work to further strengthen its business of providing energy savings for detached homes through this Service. By also expanding its alliances with home builders, the company aims to introduce the Service in 10,000 new and existing homes over the next two years.
The companies are committed to promoting CO2 reductions through the efficient use of energy in the home, and to contributing to an environmentally aware, recycling-oriented society.
1 Assumes annual electricity use by a family of four in a detached home equipped with a Solar Frontier 4.08 kW solar panel and an NEC 3.9 kWh storage battery system.
2 Refers to homes that offer both a comfortable living environment and significant energy savings through the use of high levels of thermal insulation and highly efficient equipment, generating energy through solar power generation and other systems, and essentially reducing annual net energy consumption to zero.
■ About ONE Energy and the Storage Battery System Rental Service
ONE Energy is an energy services company backed by investments from ORIX Corporation and NEC Corporation. Rental of a comprehensive system is provided through a combination of the NEC-made residential storage battery system and "pipipa," a smart house app developed by EPCO, linked through cloud data.
Corporate Planning Department
ORIX Corporation (TSE: 8591; NYSE: IX) is an opportunistic, diversified, innovation-driven global powerhouse with a proven track record of profitability. Established in 1964, ORIX at present operates a diverse portfolio of businesses in the operations, financial services, and investment spaces. ORIX's highly complementary business activities span industries including: energy, private equity, infrastructure, automotive, ship and aircraft, real estate and retail financial services. ORIX has also spread its business globally by establishing locations in a total of 37 countries and regions across the world. Through its business activities, ORIX has long been committed to corporate citizenship and environmental sustainability. For more details, please visit our website: http://www.orix.co.jp/grp/en/
Caution Concerning Forward Looking Statements:
These documents may contain forward-looking statements about expected future events and financial results that involve risks and uncertainties. Such statements are based on our current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that could cause such a difference include, but are not limited to, those described under "Risk Factors" in the Company's annual report on Form 20-F filed with the United States Securities and Exchange Commission and under "4. Risk Factors" of the "Summary of Consolidated Financial Results" of the "Consolidated Financial Results April 1, 2015 - March 31, 2016."
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