Solar panels put shine on farmer savings
Westpac and Meridian Energy are giving farmers easier access to solar energy, potentially helping them save thousands each year on their power bills.
The new solar panel initiative was launched in June in New Zealand. One of the first to pilot the solar panels will be the Westpac Taranaki Agricultural Research Station in Hawera, which will provide an ongoing assessment and monitoring of the solar panels’ operation and cost savings on its dairy farm.
Westpac Head of Agribusiness Dave Jones says as part of Westpac’s 2013-2015 Sustainability Strategy, the bank is committed to supporting clean-tech business ideas.
“We’ve spoken to our agribusiness customers, and we know they’re very concerned about sustainability. They are interested in getting into the solar energy space, but have been put off in the past by the cost and complexity of the solutions.
“We’re trying to make it easy for farmers to make sustainable decisions which also make good business sense and provide a modest return on their investment,” he says.
Meridian Energy GM of Retail Bill Highet says, “Our grid tied solar customers (those that can send electricity back to the grid) have been increasing dramatically and it will not be long before we exceed 1000, Australia has over a million. Solar panel prices have reduced, interest has increased in the technology … it now makes smart economical and environmental sense for the customer to invest and install. This offering allows for agribusiness customers to farm their own electricity and make a significant impact in reducing their energy costs.”
The Solar Shed package includes a high-quality grid connected solar (PV) system and installation, 100% Equipment Finance loan (with a 3-year term) at Westpac’s special reduced interest rate (terms and conditions apply. Westpac’s current Equipment Finance lending criteria apply. An establishment fee may apply. Details of the interest rate are available from Westpac), a smart meter and access to an online portal.
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