The Amazing Mill Markets expects an investment in solar panels to protect the business from spikes in power bills in years to come.
Australian Energy Upgrades has just installed a 105kW solar panel system at the Newcomb business that houses dozens of store holders.
The system is expected to offset 95 per cent of energy use on the site and cut its carbon dioxide emissions by 214,721kg, the equivalent to 301 trees being planted.
Amazing Mill Markets owner Mark Ward said the system provided some certainty for his business amid concerns future power costs are set to surge over the next 1 years.
“What that give us is the comfort of knowing we won’t be hit with extraordinary bills,” Mr Ward said. “It eliminates that treat.”
In keeping with his experience at Daylesford Mill Markets, Mr Ward said he expected to recoup an investment of $125,000 after government subsidies at Newcomb in about three years.
He said at Daylesford, winter power bills had gone from about $5500 a month to about $1400 a month, while in summer the bills were down to zero.
Australian Energy Upgrades director Tom Vandermark said Amazing Mill Markets was an example of a business looking past the immediate COVID-19 crisis.
With the threshold for the instant asset write-off increased to $150,000 for eligible businesses for the rest of the year, Mr Vandermark said there was extra incentive for businesses to look at installation solar energy systems.
“A 100kW system is well under $150,000… A business can claim that back,” Mr Vandermark said.
“There’s such a great opportunity in the market right now for solar, to see big energy savings and reduce operational costs, and the environmental factor as well.”
He said the system installed at The Amazing Mill Markets would save the business more than $1.1m over the next 25 years.
Meanwhile, The Amazing Mill Markets is starting to see a significant rebound from its closure during Stage 3 lockdown restrictions earlier this year. Mr Ward said he suspected a surge in domestic tourism and visitors exploring their own backyard had helped his store holders, “Our stores are trading better than ever,” he said.