Goslings to install biggest commercial solar panel system on Island

Wine and spirit distributor Gosling’s is set to install the largest commercial solar panel system in Bermuda to date.

Local company Alternative Energy Systems has been awarded the contract to engineer, design, supply and install a 570-panel photovoltaic (PV) solar energy system to generate electricity at its head office in Hamilton. The panels will be installed on the roof of the main warehouse, which will offset energy consumption produced by a bottling plant, retail space, executive offices and refrigerated storage located on the property.

The 136-kilowatt system, says Gosling’s, will produce more than 17,000 kilowatt hours or more than $6,500 worth of electricity per month based on today’s cost of electricity.

“As the price of energy continues to rise along with our awareness for environmental stewardship, we decided that Gosling’s needed to make a move toward renewable energy,” said Nancy Gosling, president and CEO of Gosling Brothers Ltd.

Solar energy is fast becoming a popular option for commercial retailers and private homes with the number of planning applications increasing year over year.

As reported in The Royal Gazette last week, a Government spokesperson said that 51 applications were made for solar developments in 2011, more than four-times the number submitted in 2009.

In 2011, a total of 51 applications were made for solar developments, with 39 having already been approved and others still going through the planning process.

With energy prices ever increasing, business is going strong, says Tim Madeiros, AES founder and CEO.

“Everything is booming, residential and commercial,” he said. “It’s got a lot of momentum. We have a lot of examples and client testimonials on the financial savings that they’ve seen and that is great for potential customers.”

Grocer Lindo’s was AES’s first commercial installation, which saw the completion of a 300-solar panel system in May 2011. The system produces approximately 11,340 kilowatts of energy per month, enough to handle between 40 and 60 percent of Lindo’s load requirements at any given time.

Gosling’s will also be the first commercial customer to finance a project in full through Butterfield Bank. According to the bank, they are currently the exclusive supplier of financing for AES-installed solar panels.

“This latest project carries great significance,” said Tim Madeiros, AES founder and CEO. “It’s two of Bermuda’s oldest establishments working together to take a modern approach to energy.”

“In working with Butterfield, we were able to obtain full financing, which was a huge factor in moving forward with the project,” said Ms Gosling, adding that the monthly payments are lower than the savings in electricity per month, which makes the system cash flow positive from the first month.

According to AES, in addition to the cost savings, Gosling’s solar energy system will save 3.8 million pounds of CO2 from entering Bermuda’s atmosphere.

Local environmental groups have applauded the move.

“Greenrock believes that solar power is a sensible investment for any business in Bermuda,” said Judith Landsberg, president of Greenrock. “The cost of electricity is inevitably going to continue to rise and solar panel technology has proven itself over decades as a low maintenance, reliable, and increasingly cost effective source of electricity. We salute Goslings for their sustainable thinking and AES as a leader in this field in Bermuda and hope that many more companies follow their lead.”