Commerce Commission files proceedings against Westpac
The Commerce Commission has announced that it has filed proceedings against Westpac New Zealand.
The new solar panel initiative will be launched at the Agricultural Fieldays at Mystery Creek next week (June 12). Among the first to pilot the solar panels will be the Westpac Taranaki Agricultural Research Station in Hawera, which will provide an ongoing assessment of the solar panels' operation and cost savings on their 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," he says.
"The joint initiative has been designed to provide the customer with a return on their investment. We estimate the average break-even period to be around seven to eight years and expect the customer could potentially achieve electricity savings of more than $3000 per year."
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."
EECA audited over 150 dairy farms in 2011 and identified immense opportunities for savings through energy efficiency. One of the key themes was that farmers are asking for more practical information on energy efficiency.
The initiative has been welcomed by Federated Farmers. Federated Farmers Energy spokesperson, Anders Crofoot, is a sheep and beef farmer and was an early adopter of solar technology.
"As a user of solar power myself at Castlepoint Station in the Wairarapa, it is an effective technology for supplying power to remote areas in a cost effective manner. This initiative by Westpac, Federated Farmers' Gold sponsor, will help ease the initial outlay.
"At Castlepoint, we are using solar to power radio communications and for wireless broadband over our 3700ha station. I can see dairy farmers looking to use the roof expanse of their milking sheds for the panels. The same applies to other heavy energy users such as arable farmers for dryers and pumps. The technology works and in recent years the price of acquisition has dropped dramatically. This initiative will now bring solar within the reach of many farmers," Crofoot says.
