Super fund ISPT rolls out rooftop solar.

Superannuation fund property investor ISPT is installing up to 59 rooftop solar properties Australia-wide as part of its $12b portfolio, cutting utility costs by $27 through a range of energy efficiency initiatives. Their National Solar Project is a four-stage initiative which aims to reduce the cost of baseload electricity and improve energy security for ISPT’s clients.

Stage 1 of ISPT Rooftop Solar Rollout

ISPT Rooftop PV Solar Installations (source: http://ispt.net.au)
ISPT Rooftop PV Solar Installations (source: http://ispt.net.au)

Alicia Maynard, ISPT’s GM for sustainability and technical services said on the ISPT website that “We conceived this project in 2016 following a national review of our key property assets in terms of the opportunity to install rooftop solar PV panels,”

According to the Australian Financial Review, stage one will involve the installation of solar panels in 13 buildings for a total of 13,000 square metres of renewable energy generation. ISPT have already finished construction of PV solar rooftop arrays in Perth (at 100 St Georges Terrace), in Canberra (at 18 Marcus Clarke Street and 7 London Circuit) and in Melbourne (at Central West Shopping Centre). 

Some of the upcoming projects will include:

  • 50 Lonsdale Street, Melbourne
  • 477 Pitt Street, Sydney (Sydney Central)

“The solar PV rollout is about positioning our portfolio to be at the forefront of the move to clean energy, taking an industry-leading position that will deliver value for our tenants, dividends for our investors and better solutions for our environment,” said chief executive Daryl Browning.

In stage two another 20 properties will have solar installed – with a massive 45,000 square metres of solar panels planned to be installed. These solar initiatives mean that ISPT’s commercial property portfolio has been given a 4.8 star rating by the NABERS (National Australian Built Environment Rating System) energy efficiency scheme.

Commercial Solar Power in Australia

This is another example of commercial solar gaining traction as a way to diversify portfolios, add value to a property, and reduce exposure to rapidly rising electricity prices. Some examples of recent commercial solar include:

 

 

WePower ICO – Fintech solution for green energy.

Disclaimer: As of the date of publishing nobody at Saving with Solar currently has any investment in WePower but we are planning on joining the ICO.

At Saving with Solar we are extremely interested in the blockchain and how it can help solve issues for those generating solar power. Previously we’ve taken a look at Power Ledger (POWR) and today we’ll look at the upcoming ICO for WePower, which is a “blockchain-based green energy trading platform”. 

WePower ICO

The project allows producers of renewable energy to raise capital by issuing ERC20 energy tokens, which represent energy they commit to produce and deliver. They have support from state power regulators in Lithiuania and electric power companies and will target Europe – Spain, Italy, Germany, Estonia, and others. Numerous solar power plants which produce over 1000MW have joined the project: Conquista Solar, Civitas Project and Novocorex.

Development of the project is divided into three stages:

  1. WePower Breeze – market entrance – “challenging the way how energy investments and purchase are done today by creating the necessary technological layer for the change to happen’. 
  2. WePower Storm – growing the services and usability, and using smart contracts to aggregate and manage flows of renewable energy. 
  3. WePower Hurricane – the final step – a completely new decentralized energy utility.

ICO Start: 1 Feb 2018

ICO End: 15 Feb 2018

Hard cap: $35,000,000

Soft Cap: $5,000,000

Token: WPR, ERC20 standard

ICO Price: 1 ETH = 4000 WPR

Minimum investment: $200

Bonuses: 15% discount for early investors: before reaching the soft cap ($5 million) 4600 WPR will be deposited for 1 ETH.

Accepted currencies: ETH

If you’re interested in investing, click here to read the whitepaper they’re prepared ahead of the ICO. Although we believe in this project we in no way recommend investing in anything like this without doing your due diligence first. One negative, for example, is that there are already a number of projects in the sphere offering fintech solutions for green energy (e.g. Power Ledger). Another is that it hinges entirely on the progress of renewable energy. Obviously we’re bullish on that situation, to say the least, but many countries have a strong oil lobby and prices of oil have decreased recently. And, who knows, maybe a perpetual motion machine is just around the corner. 

Kaspar Kaarlep, the CTO of WePower, has a video below where he discusses their vision for energy transformation in Europe and across the world:

ICORating have assigned a “Positive” rating to the project and recommend it for both short and long term investors – saying the WPR tokens can be “considered both as investments for long-term portfolios, and for the purpose of speculative earnings on the expectations of a successful platform launch and demand for tokens from the initial customers for tokenized energy”. 

WePower ICO Whitepaper Rating
ICOrating.com gives WePower the
highest rate (source: WePower Newsletter)

View an introduction to the system by watching this video!

View a platform demo below:

 

If you have any questions, comments, or insight into this project we’d love to hear about it – please sound off in the comments and we can start a conversation about this exciting new technology. 

Solar Roads in China almost ready for testing

Solar Roads in China are being trialled, according to Electrek. The roadways have solar panels underneath them that may have myriad benefits such as wireless charging, digitally assisting driverless cars, powering streetlights, signs, charging stations, and so on. Once a laughable idea due to the cost, massive improvements in technology mean that we are edging closer towards having true ‘solar highways’ at some point in the near future. 

Solar Roads In China

Solar Roads in China
Solar Roads in China (source: en.people.cn)

The Jinan City Expressway, the stretch of solar roadway currently being constructed, is a 1.2 mile (a little under 2km) stretch of road which has transparent concrete being laid over a layer of solar panels. The construction is already complete and it’s currently waiting to be connected to the grid – they expect this to be completed by the end of the year. It’s actually the second solar roadway in China – with the first being completed in Jinan by the Quilu Transporation Development Group, which has 790 square yards of solar panels and is currently performing well. 

Technical Details

The solar highway has been designed with three discrete layers – on top a transparent concrete which is, for all intents and purposes, the same as regular bitumen/asphalt. In the middle are the specially-designed ‘weight bearing’ solar panels, and below them another layer to separate the panels from the damp earth below. According to Elektrek even medium sized trucks will be able to drive on the solar highway. 

Although the project’s technology is markedly different, it is in some ways similar to the Dutch SONOB highway installation earlier this year – where they use Infrastructure Integrated Photovoltaics (IIPV) (Also known as Building Integrated Photovoltaics (BIPV)) in order to help power sound barriers, lights and more.

Given that Jinan is one of the most polluted cities in China, it’s great to see them working on a second solar road and hopefully this is just the beginning. 

Australian solar cell research gets $29.2m grant.

Australian solar cell research has received a $29.2m grant from ARENA (Australian Renewable Energy Agency) – with 11 of the 22 projects currently sponsored associated with UNSW, who has been leading the way in Australia’s solar research for over 40 years. 

Australian Solar Cell Research

ARENA chief exec Ivor Frischknecht was quoted on the UNSW website talking about Australia’s solar research and how ARENA have been able to help with funding projects:

“In this funding round, the candidates and the calibre was so high, we actually increased the total funding we awarded to nearly $30 million,” he said. “This research will improve the technological and commercial readiness of new innovation in solar PV cells and modules, enhance Australia’s position as world-leaders in solar PV R&D and address Australian-specific conditions.”

ARENA’s latest funding round has seen UNSW granted $16.43m for 11 projects. UNSW’s research partner in ACAP (the Australian Centre for Advanced Photovoltaics), ANU, received  $7.89m for six projects, the CSIRO received $3.31m and Monash University got $1.59m.

UNSW and SIRF

Australian Solar Cell Research - UNSW's Solar Industrial Research Facility
Australian Solar Cell Research – UNSW’s Solar Industrial Research Facility (source: unsw.edu.au)

UNSW’s Solar Industrial Research Facility (SIRF) was created in 2011 as a $16m ‘turnkey pilot line manufacturing facility’ which allows UNSW to create silicon solar cells from lab processes to factory ready industrial processes. According to the UNSW website, architects Woods-Bagot modelled the outside of the building to mimic the pattern of multi-crystalline silicon solar cells.

Today, it’s a $30m facility aimed at advancing solar power technology – bringing UNSW’s solar tech to industry partners across the world. SIRF has brought over $8 billion in benefits to Australia over the past ten years – with gains of energy efficiency forecast to save Australians $750m over the next decade. It’s been the recipient of myriad ARENA grants and is a great example of Australia’s commitment to solar power research. 

Dean of UNSW Science Emma Johnston, discussing the grants, said: “At UNSW we are proud to have a long history of world-leading solar innovations dating back to the 1970s. But research is only one part of the puzzle. Equally as important is translating these world-leading ideas into commercially viable products.

“The SIRF facility we stand in today is evidence of this commitment – a place where we work hand in hand with industry to deliver solar solutions for Australia and the world,” Dr. Johnston added. 

CSU Solar System at Wagga Wagga

CSU Solar – Charles Sturt University at Wagga Wagga is launched its 1.7MW, $3.2 million PV solar system yesterday – the country’s largest ever solar panel installation on a single site. The solar panels have been installed on the rooftops of 17 buildings around campus and it’s expected they will generate enough renewable energy to power 20% of the university’s electricity requirements. It was constructed over a six month period. 

CSU Solar System at Wagga Wagga Launch Party Cake
CSU Solar System at Wagga Wagga Launch Party Cake (source: CSU Green Facebook)

CSU Solar and Renewables

According to the CSU website, in 2016 they became the first carbon neutral university in Australia. Their 1,774 kW (1.7MW) solar installation will generate 2,620,000 kWh in its first year of operation – this is equivalent to the generation of 2,330 tonnes of CO2. Head contractor for the project are experienced large-scale solar installers Todae Solar, who have been responsible for a 1.24MW solar plant at the Brisbane Markets in Rocklea, 1.22MW at Stockland in Shellharbour, a nationwide 2.3MW Aldi rollout, and many more. 

Ed Maher, the manager of CSU Green, says the installation will serve two main roles – for CSU to keep leading in carbon neutrality, and also to ease their heavy reliance on the electricity network. It’s been financed through independent energy services firm Verdia and the tender was managed by Solar Choice late last year. As a result, the install is expected to save money starting from year one – “This is despite our existing low electricity tariffs and the absence of any unique government subsidies or grants,” Ed Maher said. “Given these early savings, I believe it marks a new phase in the financial viability of renewable energy on a large commercial scale which is another step towards a clean energy future.”

A lot about university solar this week – it’s no surprise that our universities are leading the renewables charge, and amazing to watch how quickly it progresses. 

If you’re interested, a drone-shot shot of the solar installation is available to watch below!

ALDI Solar System installed at Brendale, QLD

A press release by Epho Commercial Solar Energy this morning announced that they have completed installation of a 1MW PV solar system on top of ALDI’s distribution centre at Brendale, QLD. The ALDI solar system is now live and is expected to offset the equivalent amount of carbon to planting 30,000 trees or taking 422 cars off the road each year. 

ALDI Solar System at Brendale

1MW Aldi Solar System at Brendale Distribution Centre
1MW Aldi Solar System at Brendale Distribution Centre (source: app.com.au)

The 1MW PV solar rooftop at the ALDI Brendale Distribution centre will generate 1.45 million kwH (1,454Mwh) and was installed by Epho, using over 20km of cabling and 3,400 solar panels. It was installed while the distribution centre was in use – making the installation a bit tricky and requiring expert installers. Epho has previously worked with ALDI via a commercial solar pilot program in 2016, where stores in NSW and VIC had smaller solar systems installed. 

Epho Operations Manager Luke Butterworth expounded further on the install in the media release: “To meet ALDI’s stringent requirements and maintain its award-winning customer experience, each ALDI installation needed to happen in a ‘ghost-like’ manner with minimal disturbance to the normal operation to ALDI’s business,” said Mr Butterworth. “The 1MW project allowed Epho to demonstrate every facet of our turnkey solar power solution to our customer, from project management, to stakeholder management, engineering and operations as well as work health and safety.”

Dr Oliver Hartley, Epho’s MD, was similarly excited, noting in the press release that “Solar power is a perfect fit for supermarkets and these large commercial solar systems can supply a significant chunk of the electricity needs for stores and distribution centres with free and clean renewable energy for years to come.”

It’s estimated that the system will fully cover the facility’s power requirements on a sunny day (and there are plenty of those in Queensland!)

Commercial Solar in Australia

Back in September, we reported on the growing trend of private businesses installing solar power on their premises, noting that commercial solar installs are up 60% in the last year and a half. 

Installs such as the Brisbane Aiport Solar System,  Complete Office Supplies’ private solar investment, and the Mitani Group’s commercial solar installation in South Australia are becoming commonplace as commercial solar grows as a financially viable option to protect against rapidly rising electricity costs. Great to see ALDI following suit and we’re sure there will be many more to come as Australia continues its renewable energy revolution. 

Sydney Metro Solar Powered Facility

The $8.3 billion Sydney Metro train network will include a solar project on the roof of a maintenance building at Rouse Hill to help power its facility. The Sydney Metro Solar project will generate around 1.5 million kWh (kilowatt hours) per year – enough to power 270 homes. 

This is a relatively small scale project (given the scope of the main network), but it’s a fantastic first step, and we hope just the start of a long and prosperous relationship between Sydney Metro and renewable energy.

Sydney Metro Solar at Rouse Hill

NSW Transport told the Rouse Hill Times that the solar facility at Rouse Hill will consist of 3,287 solar panels. They’ll be installed on the roof of the maintenance building on Cudgegong Road – this will be one of the largest solar power systems installed on a building in Australia – it’ll cover more than 6,500 square metres.

The renewable energy generated by this solar system will be used to power some of the Sydney Metro railway stations, and also the maintenance facility, where the new metro trains will be washed, inspected, repaired, and serviced. According to the official website, in keeping with the eco-friendly theme of the facility, Sydney Metro trains will be washed in an automated train wash, at least twice a week – and up to 95% of the water used to wash a train will be recycled. 

The trains also use regenerative braking – which means extra energy generated by a slowing train can be pushed back into their local grid and used by nearby trains. 

Sydney Metro Solar Rouse Hill
The Sydney Metro Solar Facility will be installed at Rouse Hill HQ (pictured) (source: sydneymetro.info)

NSW Transport and Infrastructure Minister Andrew Constance told the Daily Telegraph “This is one of the biggest solar power systems mounted on a building in Australia — another milestone that shows the sheer scale of the city-shaping Sydney Metro project,”

Constance noted that “Sydney Metro is the biggest urban rail infrastructure investment in the nation’s history and we’re building it for the long term” – so it’ll be great to see how they couple this with renewable energy and eco-friendly developments during its lifetime. 

New Energy Solar raising funds for IPO.

American based sustainable investment fund New Energy Solar is hoping to raise up to $300m as they prepare to float on the ASX. Applications for the Retail Offer are expected to open this Friday – their prospectus and product disclosure statement was lodged with ASIC last Thursday and anyone looking to invest in the company should start doing their due diligence!

About New Energy Solar

New Energy Solar, established in 2015 and run by John Martin, is an unlisted investment fund that invests in large-scale, cashflow-positive solar power stations. According to the Australian Financial Review, they then sign fixed-price and escalating PPA (purchase power agreements) with customers which are generally for 13-15 years. After the PPA terms expire the plants can re-contract with their customers or sign a new contract with someone else.

The company website notes that they have already generated 189,000MWh of electricity in Q1 and Q2 of 2017 – this represents 105,000 tonnes of displaced CO2 emissions – equivalent to pulling 50,000 cars off the road and powering 44,500 homes. 

New Energy Solar currently has four solar power stations on their books and they hope to use funds raised by the ASX IPO to buy more plants in the United States and also expand into buying solar plants in Australia. 

Their current projects include:

  • North Carolina 43MW Project
  • North Carolina 47MW Project
  • Stanford 67.4MW Project
  • TID 67.4MW Project

A media release said that they are also in binding contracts to purchase 14 more American solar plants, with a total output of 130MW. This will bring New Energy Solar’s total holdings to “a diversified 345MW portfolio of large scale solar power plants underpinned by highly creditworthy off-takers and a weighted average PPA term of 16.4 years”.

John Martin, New Energy Solar CEO was quoted as saying “These high-quality projects and the proposed PPAs with creditworthy off-takers greatly increase our scale as an investor in solar and also enhance the diversity of our portfolio.”

The exact timing of the New Energy Solar IPO is as yet unknown and will depend on how successful it is in the opening stages – we’ll update this article with some progress as soon as we hear any more. It’s exciting to see more private solar investment in Australia and we’ll follow New Energy closely over the coming weeks and months. 

Click here to view their website about the IPO and download the offer document. 

New Energy Solar ASX IPO
New Energy Solar ASX IPO (source: newenergysolar.com.au)