Naylor Love has taken a significant step in its sustainability journey by installing a 35kW solar system on its Ward Street site. The solar installation is expected to produce 35,111 kWh of clean energy each year, accounting for over 40% of the Dunedin office’s annual energy consumption. This includes large power loads such as heating and air conditioning.
According to Naylor Love Financial Controller Ewen Stapley, the financial return on solar really stacks up.
"The financial evaluation calculated that the 35kw system has an Internal Rate of Return (IRR) of 8.7% and a 6.5-year payback, assuming energy costs are flat. If energy costs increase at 8% p.a. the IRR would increase to 15%."
Naylor Love’s decision to invest in solar energy was driven by the company’s genuine commitment to sustainability.
"Naylor Love are committed to achieving our carbon reduction targets and continue to look for ways that business decisions can reduce carbon emissions. One tangible way is to fit solar panels to all the Naylor Love owned properties."
And with an estimated annual CO2 reduction of 8.3 tonnes, the move has significantly reduced their carbon footprint.
In addition to the solar system, Dunedin Solar installed an electric vehicle (EV) charger, allowing the company to power its vehicles with solar energy, and further reduce their impact on the environment.
The project, one of the larger ones completed in Dunedin, shows the viability of solar for Businesses. Investing in solar energy makes good financial sense for businesses as it dramatically reduces day-to-day running costs.
Originally published on dunedinsolar.co.nz