SYDNEY, May 5, 2025 /PRNewswire/ — Victoria has rolled out significant new rules designed to keep the energy grid stable as solar adoption continues to rise. Having taken effect on 1st October, 2024, the state’s Emergency Backstop Mechanism mandates all new and upgraded solar installations be network connected and communicate with a designated server, enabling grid operators to limit or temporarily halt solar energy exports when there is overproduction.

While these requirements bring complexity to homeowners and installers, FranklinWH energy management and storage system stands apart, simplifying retrofit installations under these rules.

The Exceptionally Easy Solution for the Emergency Backstop Mechanism

The new regulations require solar systems to have continuous network connectivity and pass rigorous Common Smart Inverter Profile (CSIP-Aus) certification tests, ensuring compatibility with remote grid management commands. Systems failing these tests risk costly delays or even disqualification from grid connection.

The FranklinWH System is a unique AC-coupled energy management system agnostic to and independent of all solar inverter models. With a configuration separate from the preexisting PV inverter, the FranklinWH System avoids the need for any modifications of original setups and the need for any emergency backstop mechanism.

Efficient Installation in Minutes

FranklinWH prioritizes ease of use and rapid deployment, drastically reducing installation and commissioning times. It features plug-and-play simplicity and avoids the need for connectivity request to the new mechanism. Commissioning the system typically takes installers around 15 minutes, eliminating lengthy delays. By contrast, traditional solar + battery systems under the new regulation may be subject to lengthy registration and compliance testing processes, sometimes taking several days or even a week to finalize.

Challenges of DC-Coupled Systems under New Rules

DC-coupled battery systems paired with hybrid inverters face substantial new hurdles in retrofitting scenarios. The regulations impose rigorous certification requirements, increasing complexity and potentially lengthening installation timelines significantly.

Additionally, during mandated curtailments or emergency shutdowns, when the grid operators remotely instruct built-in hybrid inverters to limit solar power feeding, the DC-coupled systems risk losing sufficient solar generation capacity, leaving batteries partially charged and homeowners more dependent on expensive grid power.

The FranklinWH System effectively avoids these pitfalls, ensuring homeowners maintain uninterrupted energy storage and utilization. It offers unparalleled reliability and operational simplicity as it does not require any on site emergency backstop testing. To learn more about FranklinWH’s innovative home energy management solutions, visit www.franklinwh.com/au/

CONTACT: media@franklinwh.com

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SOURCE FranklinWH Australia Pty Ltd.

MALÉ, Maldives, May 4, 2025 /PRNewswire/ — The Maldives Government and MBS Global Investments are to create an US$8.8bn Maldives International Financial Centre (MIFC) – a wholly sustainable, Financial Freezone in Malé, Maldives, designed for and created to attract global financial institutions, fintech pioneers, and global digital Nomads.

Allowing the Maldives to diversify beyond tourism, it will attract the future of finance and position Malé as the premier global business and financial hub in the Indian Ocean through an integrated, mixed-use urban district.

MIFC will offer no corporate tax, tax-free inheritance, ownership as per the constitution of the Maldives, and privacy. Combined with no residency requirements, it’s set to attract digital nomads, entrepreneurs, and wealth creators seeking freedom without borders.

Residents will benefit from multi-currency banking and access to offshore private banking. Future-ready regulations will support digital assets, and green finance – making MIFC not just a financial hub, but a destination for those investing in the legacy of future generations.

Due to be completed by 2030, it will be easily accessible from any part of the world and the aim is to notably increase the country’s GDP within four years with projected revenue to be well over US $1bn by the fifth year.

The centrepiece of MIFC is a state-of-the-art conference centre with capacity for 3,500 people. The multi-purpose convention venue will host leading global conferences, cultural events and innovation-driven hackathons establishing Male as leading assembly hub, driving all year round engagement in the Maldives and further supporting the wider, already established hospitality industry

The plan includes three iconic residential and office towers designed for international HQs and regional offices, high-end, sea front branded residences, world-renowned hotel brands, vibrant and one-of-a-kind retail experience, Oceanographic Museum, Mosque, and leading education facilities including an International School.

President Dr Mohamed Muizzu said, “With the MIFC, we are shaping the Maldives of tomorrow, a beacon of innovation and national pride that will thrive in harmony with nature. The financial centre will be a symbol of economic resilience and will set a new global benchmark that will massively benefit the people of the Maldives for generations to come.”

Minister of Finance for the Maldives said, “This is a momentous project. It offers a great opportunity to diversify our economy beyond tourism in line with our ambitions and will attract the best businesses and visionary entrepreneurs in the world.” 

Nadeem Hussain, CEO of MBS Global Investments said, “The financial centre will set a new global benchmark, advancing financial innovation by at least two decades. It is the next evolution of what has been happening in other financial centres around the globe.”

MIFC will have a fully climate-resilient infrastructure, and the architecture and public spaces will be powered exclusively by renewable energy. The upper level of the development will be entirely car-free, with all transport and logistics infrastructure located underground to preserve a pedestrian-friendly, open-air environment.

It will offer a holistic lifestyle rooted in wellness and longevity – designed to be one of the most desirable places to live and work. It will feature world-class sports facilities, cutting-edge longevity and wellness centres, and shaded running and cycling tracks woven through expansive green spaces. Complementing its state-of-the-art office spaces, MIFC will also be home to premium retail, celebrated F&B destinations, and dynamic cultural venues – creating a truly integrated live-work-play environment.

This dynamic mixed-use development has been designed by master planner Architect Gianni Ranaulo, every structure from the overarching master plan to the individual buildings are inspired by the local fauna and marine eco-system. Ranaulo incorporates environmentally conscious practices in all projects. The total size of the development is 780,000 sqm where more than 6,500 people can reside, and an expected daily footfall of 35,000.

www.mifc.gov.mv

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SAN FRANCISCO, May 4, 2025 /PRNewswire/ — To celebrate seven years of helping consumers resolve debt, Solo is giving one customer the ultimate anniversary gift: a chance to have their debt paid off.

Solo, the platform that connects everyday Americans with collectors to pay off debt, is turning seven—and giving back. To celebrate its 7th anniversary, the fintech startup is hosting Solo’s Debt Payoff Giveaway. One lucky participant will receive $4,700—the average amount of a debt lawsuit according to Solo data aggregated from over 200,000 accounts.

The giveaway shines a spotlight on a difficult financial reality. Based on Solo’s latest financial analysis, the average debtor is sued for more than 11x their bank account balance. This comes out to roughly 80% of their monthly income, so it’s no wonder so many people struggle to respond to debt lawsuits, negotiate settlements, or pay off their debts. Solo’s latest features are designed to flip the script and empower consumers to get out of debt fast.

Everything Solo builds is designed to help people take control of their financial future. “Debt can feel hopeless. We’re here to prove there’s a solution,” said George Simons, Solo’s CEO and founder. “This giveaway is our way of celebrating progress—and helping one more person move forward.”

Solo is now an AI-first experience. Consumers talk for free with its powerful AI, which scores in the top 10% on the bar exam, top 20% on the CPA exam, and is built on OpenAI’s GPT-4o. Users can discover tips to build credit, budget better, and pay down debts. With SoloSettle, consumers can get debt resolution deals based on their actual financial circumstance and collaborate with collectors to achieve instant settlements. 

“Thanks to Solo, getting sued for debt is no longer a dead end,” said Simons. “Instead, for hundreds of thousands of Americans, it’s the pivot point towards a brighter future and greater financial prosperity.”

About Solo
Solo simplifies debt resolution for both consumers and collectors. Since its launch in 2018, Solo has helped more than 290,000 consumers manage $1.92 billion in debt, offering tools that simplify and accelerate resolution. Roughly 10 million US consumers are sued for debt yearly, and many use Solo to respond to lawsuits, engage with collectors for the first time, and negotiate debt digitally, often reaching a resolution in just days.

View original content to download multimedia:https://www.prnewswire.com/news-releases/solo-celebrates-its-anniversary-with-debt-payoff-giveaway-and-ai-advancements-302445524.html

SOURCE Solo