Turning sunshine into energy savings
If your solar project exceeds more than $150,000 talk to your rural manager about how we can support you.
ASB Bank Limited's lending criteria and terms apply. Only available for existing or new ASB Rural customers and only for professional installations of solar equipment on your rural property. Applicants must meet ASB's eligibility criteria. ASB will require evidence of the solar installation to our satisfaction. Offer and fees may change. At the end of the 5-year fixed rate period our Floating Base Rate plus applicable margin will apply. An early repayment adjustment may apply if you break a fixed rate term. See business and rural loan interest rates and fees for details. The ASB Smart Solar Loan offer is available at ASB's discretion, even where lending and eligibility criteria are met. Offer available until 15 December 2025 and may be withdrawn at any time.
Why solar, why now?
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Farm electricity costs are rising, with the average '25/'26 season power bill expected to be $28,000 for owner-operated dairy farms. [1]
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Solar systems can reduce your energy costs by up to 40-70% annually - freeing up cash to reinvest into your farm. [2]
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NZ receives 2,000-2,500 sunshine hours* annually. [3]
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Reliable energy is critical for farm production and safe storage of produce.
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Survey of 1,000 farmers showed 70% are interested in installing solar. [4]
Understanding farm energy needs
Different agricultural operations have unique energy demands. Understanding these patterns will help identify an appropriate solar solution for your farm. Below is a summary of common farm types and an example of their energy profiles:
Dairy Farms
- High electricity consumption for milking equipment, milk cooling, water heating
- Fairly consistent daily usage patterns with morning and afternoon peaks
- Primary energy needs: Milking parlour, refrigeration, water pumping and irrigation, effluent pumping
Horticulture
- Seasonal demand variations based on growing cycles
- High consumption for irrigation, climate control, processing
- Energy-intensive cooling/refrigeration during harvest periods
- Primary energy needs: Irrigation pumps, greenhouse equipment, packing facilities
Sheep and Beef
- Generally lower electricity usage than comparative dairy or horticulture farms
- Seasonal variations tied to shearing and lambing
- Primary energy needs: Water pumping, woolshed operations, electric fencing
Knowledge that moves the needle
'Electric Farms - Rewiring Aotearoa'
ASB engaged Rewiring Aotearoa to understand solar potential for farms. See link for insights or to download the report summary.
'The Future Use of Land and How to Fund It' Report
We partnered with Lincoln University - who are leaders in agri-research - to create a report that explores the challenge facing the industry of how to meet economic, environmental and social goals and what this might mean in terms of land use in the future. The report focuses on pathways the sector can consider, including how New Zealand can harness the power of new technology. See report for some industry examples on solar.
Is solar right for your farm?
10 questions to ask yourself:
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1. Are your electricity costs rising?
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2. Do you face frequent outages?
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3. Is sustainability important for your supply contracts?
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4. Are you planning any on-farm expansions?
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5. Do you have high irrigation or refrigeration demand?
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6. Is your farm exposed to lots of sun?
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7. Do you have space for panels?
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8. Do you want more control over operating costs?
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9. Are you interested in lowering emissions?
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10. Do you want to boost property value?
If you answered yes to 4 or more, solar could be a smart move.
Enquire now
Talk to your ASB Rural Manager or fill out the enquiry form below.
Enquire online
Fill in our enquiry form and we will connect you with the right team.
Talk to an expert
Our rural experts can help you understand your land.
*Statistics noted above in 'Why solar, why now' sourced from [1] Dairy NZ Econ Tracker, Farm Economics, [2] SEANZ & Agrisolar Industry Benchmarking 2024, [3] NIWA Mean Average Sunshine Hours report, [4] Rewiring Aotearoa/Federated Farmers survey, March 2025.
ASB Smart Solar Loan is available on a Business Term Loan. ASB's Lending criteria, terms and fees apply.