As demand for battery systems rises, the company is restructuring its leadership to match its expanding ambitions.
Brighte’s effort to make home batteries more accessible through flexible payment options has begun to yield results. The federal Cheaper Home Batteries program, which offers about $4000 per battery installation, is fuelling a spike in orders. This positions Brighte to grow alongside the accelerating demand for residential energy storage.
Launched in 2015 and backed by Grok Ventures, Brighte was founded on the belief that battery storage would spark the next wave in household energy solutions. Although initial adoption rates were slow, with fewer than 100,000 systems installed by 2020, the market has since shifted. By mid-2023, more than 55,000 new systems were installed in just a few months, matching the pace of solar uptake and highlighting a desire among homeowners to cut electricity costs.
With 4.2 million Australian homes now equipped with rooftop solar, batteries are seen as the next major step towards greater energy independence. Brighte has already financed $2.6 billion in clean energy solutions, including solar, electric vehicles and hot water systems, for more than 250,000 customers. Its buy-now-pay-later approach helps homeowners upgrade sustainably without large upfront expenses.
As Brighte approaches its 10th year, the company is revamping its board to reflect its evolving focus. It has appointed a former major retail CEO as a non-executive director, bringing extensive commercial expertise to its leadership. Grok Ventures has also restructured its representation on the board, while institutional investors like AirTree Ventures continue to support the company.
Brighte is considering appointing an independent chair to reinforce its governance as it grows. For now, the founder remains both CEO and chair, steering the company through a pivotal phase. With battery demand finally gaining real momentum, Brighte is well-placed to benefit from a once-delayed yet now flourishing clean energy opportunity.
