Kiwi companies bring affordable solar power

MEDIA RELEASE
7 September 2012

Kiwi companies bring affordable solar power to Kiwi households

We are pleased to announce the launch today of The Warehouse's country-wide Solar Roof Shout and Kiwibank's Sustainable Energy Loan, helping Kiwi families install solar for as little as $2.50 a day. The Warehouse will showcase SolarCity solar power systems in six stores every weekend, starting today, reaching 42 stores across the country over the next year and offering a $250 voucher for every system sold.

Mark Powell, Group Chief Executive Officer of The Warehouse says it's important that two leading Kiwi companies are helping to bring solar power to Kiwis at a better price, to help them combat ever-increasing electricity costs. "The price of electricity has increased by 84% in the past ten years and many of our communities are struggling to pay their power bills," Powell says. "New Zealand has plenty of sunshine so we want to educate Kiwis about solar power, and help make it more affordable for families.

"By having SolarCity experts in different stores across the country, we can help our customers understand how they can best reduce the energy costs they face," he says.

Kiwibank's new Sustainable Energy Loan is designed to help make it more affordable for people to generate their own energy, with the bank contributing up to $2000 towards the cost of financing each system installed.

Kiwibank Chief Executive Paul Brock says it is great that an organisation with the reach of The Warehouse is demonstrating how the new Sustainable Energy Loan can work for Kiwis.

"It's fantastic to see our new loan in action so it can make a difference across the nation straight away," says Brock. "Offering Kiwis the best deal on renewable energy systems helps everyone save money on power and do their bit for the environment." SolarCity is the nation's leading solar power company and over the last 30 years the company has put more Kiwi-made panels on homes and businesses than anyone else. SolarCity's Chief Executive Andrew Booth says it's important to remove the barriers for people who want to take up sustainable energy options.

"Research shows that people want solar, but the upfront cost is the most common barrier," Booth says. "Accessing a Kiwibank Sustainable Energy Loan, as well as a $250 Warehouse voucher, will help people enjoy the financial benefits of solar immediately. Plus, the SolarCity standard Panasonic solar power system has a 25-year power output guarantee, so once the system is paid off, it will generate free power for decades.

"Solar power will be an important part of New Zealand moving towards its goal of being 90% renewable energy by 2025," he says.

BACKGROUND

The Warehouse Solar Roof Shout takes the new Kiwibank Sustainable Energy Loan to everyday Kiwis, with a target of installing 27,000 systems on rooftops across the nation to:

* Generate up to 65 million kilowatt hours of clean(1), renewable energy per year, which is the equivalent of powering more than 8 thousand homes(2); and

* Avoid producing more than 11,000 metric tons of carbon dioxide emissions per year(3), which is the equivalent of taking approximately 4000 cars off the road(4); and

* Provide up to 30% of each homeowner's energy use (5), at a price below what they are currently paying for power.

1. assuming each system produces 1200kWh/kWp and is a 2kWp system

2. assuming each home uses 8000kWh of energy per year

3. assuming 0.17kg CO2-e/kWh of electricity

4. assuming 14,000km/a per car, 8L/100km efficiency of said car, with regular petrol 22.847grams/l of fuel, equates to 182 grams CO2-e/km = 2558kg/car/year CO2-e

To learn more about the Warehouse Solar Roof Shout initiative, please visit www.thewarehouse.co.nz

About SolarCity

SolarCity is the nation's leading solar power company, taking fifth place in the 2012 New River Green 50 list. Over the past 30 years SolarCity has put more Kiwi-made panels on homes and businesses than anyone else.

We are currently involved with New Zealand's largest solar subdivision in Christchurch, putting solar on 3,500 Maxim Projects-built homes, are installing the nation's largest commercial solar power system for Panasonic in Auckland, and have just launched the C21e panel in New Zealand on the country's first Zero Energy House, based in Auckland.

Our services range from design, product development and manufacturing to financing, installation, service and remote monitoring. SolarCity is New Zealand's only solar company to have CarboNZero accreditation. We are in business for a purpose: to help create a cleaner world and a sustainable future.

Our commercial and Government clients range from the Ministry of Economic Development, the Department of Conservation and EECA to The Warehouse and Europe's largest solar company, Solarcentury. We are also under contract to the Ministry of Foreign Affairs to advise on solar and energy strategy across the Pacific.

More: http://www.solarcity.co.nz

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