Sunny side up at Stockland
Solar project aims to cut costs
TENANTS of a Cairns shopping hub will have access to cheaper electricity following the completion of a $3.4 million renewable energy project.
Up to 5200 solar panels will be installed on the roof of Stockland Cairns Shopping Centre in coming months.
Stockland chief executive Mark Steinert said all the energy produced would be used to power the Earlville centre.
“It’s good for the environment, it’s good for our customers and it’s good for the tenants,” he said.
“As a result of this installation we’ll be able to offer electricity at a discount to the tenants, which will help them with their business and profitability.”
He said the project could potentially slash the tenants’ electricity costs more than 10 per cent.
Mr Steinert hoped the solar panels, weighing 23kg each, would be installed on the centre’s roof “before Christmas”.
As it stands, Stockland Cairns’ annual electricity bill can exceed $1 million.
The local project forms part of a $23.5 million nationwide investment in solar by Stockland, an ASX-listed property industry giant.
“Where we’ve made other large installations like this, around 25-30 per cent of total (shopping centre) electricity can be generated from the solar,” Mr Steinert said.
Mr Steinert was yesterday joined at Stockland Cairns by several company executives and Treasurer Curtis Pitt.
“We believe the renewable energy target we have in Queensland – 50 per cent renewables by 2030 – is absolutely achievable,” Mr Pitt said.
“We’re going to see the rooftop solar program here deliver great outcomes for tenants, who are hopefully going to be able to buy into a cheaper electricity price.