ISPT launches stage two of national solar project

Property manager ISPT has successfully launched the second stage of its four-phase National Solar PV Project, installing 13,000 high-tech solar panels across 75,000 m² of roof space and 12 retail properties in NSW, Victoria and the ACT.

Phase one of ISPT’s ambitious program saw 20,000 m² of solar PV panels across 13 properties and has now exceeded benchmark targets on electricity production by 12%. The second-phase rollout — the result of an $11.6m investment — is anticipated to generate 5,352,900 kWh of electricity in year one alone and should see ISPT customers and tenants reap the benefits of lower power bills and greater energy security, with $1.5m projected cost savings per annum.

ISPT said the latest milestone marks a significant step forward for the company, seeing it onsell energy at a cost-effective rate to its customers while also providing base building power to all properties from the first half of the rollout. Overall, both stages of the national program are estimated to generate $30m in cost savings over their lifetime.

“Stage one of our project has already exceeded expectations by producing an impressive 1361 MWh of electricity, which is the equivalent power usage of 168 homes,” said Alicia Maynard, ISPT’s General Manager, Sustainability & Technical Services. “We’re confident that stage two will continue to up the ante, and deliver for our customers and the environment alike.”

The National Solar PV Project is part of ISPT’s broader energy efficiency program, which has cut utility costs by $27 million over the decade. Maynard said the project is leveraging the world’s best, most efficient technology to provide a secure long-term energy solution.

“Solar can easily be retrofitted to most existing buildings, in most locations, and has the potential to create meaningful outcomes for both our customers and the environment so for us, it is a logical choice,” she said. “With the continued rise of grid energy costs, we’re able to provide our customers with a secure price, which is particularly beneficial to those based in regional locations.”

With investigations into phase three of the project already underway, ISPT is researching industrial applications of solar to scale the project nationally, while advancing technologies with the introduction of battery storage. The company will have over 50 buildings with installed solar once stage four of the project is underway.