{{COI|date=April 2012}} {{Use dmy dates|date=November 2019}} {{Infobox company |name = True Value Solar |type = Private |foundation = March 2009 |defunct = 2018 |location = Melbourne, Victoria, Australia |key_people = David McCallum (Managing Director) |industry = Renewable Energy |products = Solar Systems |net_income = {{profit}} A$43.3 million (2011) |num_employees = < 30 |homepage = {{url|truevaluesolar.com.au}} }} '''True Value Solar''' was an Australian solar systems sales company, which was founded in 2009 and ceased operations in late 2018.<ref>{{Cite web|url=https://onestepoffthegrid.com.au/one-australias-biggest-solar-installers-shut-shop|title = One of Australia's biggest solar installers to shut up shop|date = 31 October 2018}}</ref> In 2011 German-based M+W Group bought a majority stake in True Value, and bought True Value's remaining 35 per cent of shares in 2013.
The core business of the company was as a sales company of rooftop solar power systems, with installation and perhaps responsibility for issues by contractors. It operated in all major states in Australia except for the Northern Territory and Australian Capital Territory, although it had no office in Tasmania.<ref>{{Cite web|title=Suren Chandrajit|date=21 December 2011|publisher=Smart Company|accessdate=21 December 2011|url=http://www.smartcompany.com.au/resources-and-energy/20111221-suren-chandrajit.html}}</ref>
==ACCC issues== On 11 April 2016, the Australian Competition & Consumer Commission (ACCC) reported that True Value Solar ceased offering its customers incentives for publishing positive online reviews, following an investigation.<ref name=positive-review-incentives>{{cite web |url=https://www.accc.gov.au/media-release/true-value-solar-discontinues-incentives-for-positive-online-reviews|title=True Value Solar discontinues incentives for positive online reviews|date=11 April 2016 |work=Australian Competition & Consumer Commission}}</ref> On 4 November 2011, the ACCC reported that True Value Solar paid two infringement notices totalling $13,200 and provided a court enforceable undertaking regarding misleading advertising.<ref name=misleading-advertising>{{cite web |url=https://www.accc.gov.au/media-release/true-value-solar-pays-infringement-notices-for-misleading-advertising|title=True Value Solar pays infringement notices for misleading advertising|date=4 November 2011 |work=Australian Competition & Consumer Commission}}</ref>
==Purchase by M+W Group== In March 2013, True Value Solar became fully owned by German-based M+W Group, after the engineering and construction firm bought True Value's remaining 35 per cent shareholding. M+W was already the majority shareholder in the rooftop solar specialist, having bought 65 per cent of the company in 2011.<ref>{{Cite web|title=Mixed Greens: German firm buys Australia's largest solar installer|date=6 March 2013|publisher=RenewEconomy.com.au|accessdate=6 March 2013|url=http://reneweconomy.com.au/2013/mixed-greens-german-firm-buys-australias-largest-solar-installer-63829}}</ref>
In March 2011 German engineering firm M+W Group announced that it had purchased a majority stake in National Solar Group, the parent company of True Value Solar at the time.<ref>{{Cite web|title=M+W takes controlling stake in National Solar Group|date=13 April 2011|publisher=Australian Financial Review|accessdate=13 April 2011|url=http://www.afr.com/p/business/companies/takes_controlling_stake_in_national_XLLM12PwQmPId3yUb0l6FM}}</ref>
==Executive members== * David McCallum, Managing Director<ref>{{Cite web|url=https://reneweconomy.com.au/true-value-solar-announces-new-managing-director-54661/|title = True Value Solar announces new managing director|date = 14 July 2017}}</ref>
==Market presence== The rooftop solar industry in Australia is one of the biggest in the world. With over 1 million residential systems installed throughout the country, the solar sales market is one of the most competitive.<ref>{{Cite web|url=https://www.cleanenergycouncil.org.au/technologies/solar-pv.html|title=Clean Energy Council – Solar PV|website=www.cleanenergycouncil.org.au|language=en|access-date=2017-03-01}}</ref>
The top ten solar system sales companies in Australia as of April 2017 according to Green Energy Markets include Euro Solar in number one place with around 6.5% of all sales, Powerark (wholesaler/distributor), SolarGain, Origin Energy, AGL Energy, with True Value Solar dropping to tenth place with only around 1% of sales.<ref>{{Cite web|url=https://1bug6h3twe4ikg0cg1c750qt-wpengine.netdna-ssl.com/wp-content/uploads/2017/06/solar-module-sales.jpg|title=Green Energy Markets – Solar PV Sales|language=en|access-date=2017-06-20}}</ref>
==References== {{Reflist}}
==External links== * {{Official | http://www.truevaluesolar.com.au}}
Category:Companies based in Melbourne Category:Renewable resource companies established in 2009 Category:Energy companies established in 2009 Category:2009 establishments in Australia Category:Renewable resource companies disestablished in 2018 Category:Energy companies disestablished in 2018 Category:2018 disestablishments in Australia Category:2011 mergers and acquisitions