ISPT’s National Solar PV Project
In 2016 we embarked on a national, 4 stage initiative to install Solar Photovoltaic (PV) panels on 50 of our rooftops. The rollout was the first of its scale in Australia and aimed to set a benchmark for sustainable leadership while providing clean, cost-effective, low-carbon energy to our customers.
The initiative allows customers to reap the benefits of lower power bills and greater energy security, and is just one of the ways we’re future-proofing our buildings and responsibly investing in a low carbon future.
Stage 1 – complete
- $1.2M investment
- 3,000 Solar PV panels covering 20,000 sqm of roof space on 13 commercial and retail building rooftops
- Powered 367,069 sqm of office and retail space
- Generated 1,361 MWh in year one – equivalent to power usage of 168 homes and 12% higher than the production benchmark
- Exceeded ROI expectations by a year with a $1.5M cost savings per annum
Stage 2 – complete
- $11.6M investment
- 13,000 Solar PV panels installed, covering 75,000 sqm of roof space on 12 retail buildings (includes 3 upgrades from stage 1).
- Expected to save 5,352,900kWh in year one – equivalent to 740 homes
- Marks a significant step forward in the project as ISPT starts on-selling energy at a cost-effective rate to its customers
Stage 3 and 4
Investigations into stage 3 are underway and will look at at industrial-scale applications of solar, coupled with new technologies such as battery storage. Stage 4 will focus on driving future revenue generation opportunities through renewables.
ISPT will have over 50 buildings with installed solar once stage four of the project is underway, making it a market leader in this space to deliver low energy property investments nationally.