02 Oct Solar – Reducing Energy Costs
Mode Management currently manages Verve Apartments, located in Erskineville, NSW 2043. It was proposed that a roof-mounted Solar Power System be installed to reduce electricity drawn from the grid for powering of common area facilities.
The annual electricity bill for Verve Apartments is in the mid range for a building its size and age. A solar power system has the potential to reduce this bill by 20% or more annually, reducing exposure to peak usage charges and energy cost inflation.
Initial tenders were sought from four highly experienced installers/providers with Clean Energy Council Accreditation. Tenders received produced a range of recommended system sizes, quoting a range of components (panel and inverter brands), electrical bill savings and Return on Investment (ROI) for each system.
A solar power system has the potential to reduce this bill by 20% or more annually, reducing exposure to peak usage charges and energy cost inflation.
The assessment of final revised tenders identified a preferred tenderer based on the company that offered the best value for money based on experience, world-leading panel and inverter brands, warranty and a competitive price. The final companies tender estimated a 23% saving on annual electricity bills based on a 25kW system.
The owners corporation approved the preferred quote and we are now please to announce that the system is installed and running. This has been a great outcome for both the owners corporation and Mode Management.