ASB is backing New Zealand farmers to stay one step ahead. With rising electricity costs, unpredictable outages, and increasing sustainability expectations, rural businesses are facing new challenges. ASB’s Smart Solar Loan is designed to help address these pressures by supporting investment in solar energy solutions.
ASB is now offering a 0% p.a. fixed interest rate for five years, on loans up to $150,000. This offer is available to ASB rural customers looking to make eligible solar improvements to their rural property. If your project exceeds $150,000, speak with your ASB Rural Manager to discuss your options.
ASB Smart Solar Loan is available on a Business Term Loan. ASB’s Lending criteria, terms and fees apply. For full terms and conditions, visit the ASB website.
Why Solar, Why Now?
- Electricity costs on farms are rising, with the average power bill for owner-operated dairy farms expected to reach $28,000 during the 2025/26 season.¹
- Installing solar can reduce your energy costs by 40–70% annually²—freeing up capital to reinvest back into your farm operations.
- With New Zealand receiving 2,000–2,500 sunshine hours each year³, solar is a smart way to harness reliable, renewable energy for everyday use.
- Reliable power is essential for maintaining production and ensuring the safe storage of produce. In fact, a recent survey of 1,000 farmers showed that 70% are considering solar as a solution.⁴
*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.
Understanding Farm Energy Needs
Every farm is different – and so are its energy needs. Understanding the specific electricity usage patterns of your agricultural operation is key to designing the right solar solution. Below is a summary of common farm types and examples of their energy profiles:
Dairy Farms
- High electricity use driven by milking systems, milk cooling, and water heating
- Consistent daily usage with morning and afternoon peaks
- Key energy demands: Milking parlour, refrigeration, water pumping and irrigation, effluent systems
Horticulture
- Energy needs vary seasonally based on crop cycles
- High consumption from irrigation, climate control, and produce processing
- Peak demand during harvest due to intensive cooling and refrigeration
- Key energy demands: Irrigation pumps, greenhouse equipment, packing and processing facilities
Sheep & Beef Farms
- Typically lower overall electricity use compared to dairy or horticulture operations
- Seasonal peaks during shearing and lambing periods
- Key energy demands: Water pumping, woolshed operations, electric fencing