Residents in a new townhouse development at Kurnell have been promised they will have no electricity bills for 20 years as a result of solar technology.
Most of the homes on the estate, each priced at about $1.5 million, have already been bought.
The development, which is due to be completed in September, is the first outside Europe in which solar power is shared between all 12 homes on a single estate.
The three and four-bedroom homes will all be connected via home power storage batteries.
They will share power from the solar system and draw little power from the grid.
Surplus power from the solar system will be sold back to the grid, resulting in zero bills.
They will. however, have to pay a $30 monthly management fee for the system.
Solar and battery installer Natural Solar said the technology was the future for property developments.
Chief executive Chris Williams said, due to the location of the development, it would have cost the developer $250,000 price to ensure the grid could supply adequate power to both the new and existing homes.
“The actual installation cost has saved the developer $22,000 from day one, but also offers buyers a tangible asset for their property, which will guarantee up to 20 years of $0 power bills and an annual estimated saving of $2500,” he said.
Mr Williams said each home would have a 5kWp solar system and a 8kwh battery.
