Planet Ark Power > Cases Studies > Commerce & Industry > Morayfield Nominees Hamilton
Morayfield Nominees Hamilton

Lower cost power, happier tenants

Morayfield Nominees sought out a means by which they could protect his building from rising energy costs. The Planet Ark Power installation provides environmentally sustainable, energy generation providing immediate benefit to both his tenants and their own business. The solar system installed will also increase the value of the building for many years to come.

Morayfield Nominees Hamilton

Case details

Client name:
Morayfield Nominees
Location:
Hamilton QLD 4007
Completed:
November 2016

Like a lot of businesses, electricity is one of Morayfield Nominees largest ongoing expenses. Rather than look around for a better contract from electrical retailers, Anthony Vedelago, Managing Director of Morayfield Nominees turned to a source of emissions free electricity to offset a portion of the business’ monthly power bill at their multi-tenanted office building in Hamilton QLD. By reducing demand from grid electricity through a Planet Ark Power solar installation.

Planet Ark Power created a large-scale solar system, consisting of:

  • 100 KW of rooftop solar using 384 solar panels and 4 inverters
  • Utilising an operating lease arrangement to gain immediate financial benefit and smooth costs of installation
  • Anticipated to generated 150,000 kWh to mitigate against cost of future energy price rises
  • Estimated annual emission savings of 118 tonnes of carbon (the equivalent of powering 23 households or taking 47 cars off the road).

Planet Ark Power also provide 10 year monitoring of the system identified any issue promptly and addressing it, as well as providing a quarterly report on system performance.

Morayfield Nominees was able to save money from day one as well as pass savings onto their tenants. Through the use of a Planet Ark Power financing arrangement the business was able to install rooftop solar with no upfront capital expenditure. As such, Morayfield Nominees successfully reducing the site at Hamilton’s monthly energy bill at a time when electricity prices are going up, not down.

The financials on the system are well ahead on modelling estimations, meaning any excess generation from the system provides additional benefits as this excess electricity is effectively free delivering a benefit to the bottom line.

Testimonial

As a landlord, I am funding these systems under a finance structure that is cash flow positive from the outset

Anthony Vedalgo, Morayfield Nominees