Battery customers feeling 'ripped off' after solar company collapses

A Sydney solar company, Macarthur Solar, has collapsed, leaving customers furious after they paid large deposits for battery systems under a federal government scheme. The company went bust, founded in 2015 by Mathew Cox, a local electrician. Macarthur Solar's customers, attracted by the Cheaper Home Batteries Program subsidy, were charged up to 50% upfront deposits, far above industry standard.

Macarthur Solar owed nearly $3.4 million to over 79 unsecured creditors, including former customers and suppliers. Sixteen former employees are out of pocket for superannuation, annual leave, and redundancy payments. Consumer advocates are calling for increased protections, oversight, and regulation after the collapse highlights glaring holes in protections.

Mark Barnes, a retiree, paid a deposit of $6,500 that he fears he will never get back, leaving him with less money to spend on his grandchildren. The liquidator, Daniel Soire, stated that Macarthur Energy was investigating potential breaches of director duties, including insolvent trading.