Bendigo banking on Australian-made solar modules for savings

The Australian headquarters of the Bendigo and Adelaide Bank is now home to one of the largest rooftop solar PV installations in the Victorian city of Bendigo with a 200 kW rooftop solar array installed on the bank’s main branch helping to power its renewable energy journey.

The system, featuring panels supplied by South Australian-based manufacturer Tindo Solar, occupies the entire roof space of the Bendigo Centre and will help the bank reduce its carbon footprint and energy consumption. The new solar panels add to those installed when the building was built in 2008 to power its hot water system.

Bendigo and Adelaide Bank managing director Marnie Baker said the installation of the 200 kw system commenced in December and in the six weeks since it was switched on the solar array had produced about 50 MWh of renewable energy and provided 15% of the building’s power.

The bank described the result as “a great start considering the commercial building has significant energy needs 24 hours per day”.

Baker said the latest solar installation aligns with the bank’s commitment to purchase 100% renewable energy by 2025 and reduce absolute emissions by 50% by 2030.

“Our bank’s fundamental purpose is to help customers and communities to succeed by securing prosperous futures. In recent years the expectations of customers and investors have evolved to the point where they want to see how the Bank is contributing to a more sustainable future as well,” she said.

“Building the Bendigo Centre for efficiency, and subsequently making improvements by installing these solar panels, is an example of our long-term commitment to sustainability, reducing our carbon and environmental footprint, improving our resilience, and better understanding the dependencies we have on the natural environment.”

As part of its renewable energy commitment, the bank will install solar systems on the roofs of 20 bank branches throughout 2022, most of which will feature Tindo panels. More than 30 Bendigo Bank branches across Australia already use energy derived from solar power.

Tindo Solar chief executive officer Shayne Jaenisch said the bank had made a powerful commitment to renewable energy, while also supporting Australian jobs and innovation.

“Bendigo Bank was Australia’s first significant bank to have a policy to not lend to businesses directly engaged in coal mining, oil and gas production and logging of native forests,” he said.

“Bendigo Bank is supportive of businesses in the renewables industry and the bank financed Tindo Solar’s new $11.5 million factory that will be producing panels in early 2022.”

Jaenisch said the Tindo panels were built for reliability, safety and performance under Australian weather conditions.

“Australia has a harsh climate and the average age of solar panels in this country is around eight years,” he said.

“We warranty ours for 25 years which means the bank will get the full financial return on their investment and the full benefit for the environment.”