SolarZero offered a scheme which was like renting to own a solar system. Problem is, by time you actually "owned it", the systems was going to worth next to nothing due to depreciation and how the effectiveness of batteries and panel deteriorates over time. Even then, a number of customers complained that they weren't making the savings SolarZero said they were going to make. There's also the huge upfront capital costs to SolarZero of buying the equipment, installing it and being drip fed back the capital costs over a few decades. A number of people said the business model just didn't add up.... but it still didn't stop the government and BlackRock pumping huge money into the business.... until it all went tits up.
First liquidators' report finds $40m owing, but also a ray of hope with buyer interest.
www.nzherald.co.nz