Investors to take solar panel business global

Experienced green energy investors are investing in 30-year-old Christchurch solar panel manufacturer Thermocell and plan to take the technology overseas.

Thermocell, founded by former Canterbury University professor of chemical engineering Arthur Williamson, is the only Kiwi manufacturer of solar hot water heating systems which qualify as Kiwi-made.

Electricity industry veteran Barrie Leay, former Greenpeace campaigner Andy Booth and third investor Simon Stockdale, all owners of Solar City in Nelson, say Williamson's solar water heating technology is unique.

They are investing a significant amount, which they decline to reveal, into expanding the production three-fold at the Christchurch premises for the domestic market. They also want to set up joint ventures with manufacturers in North America and Europe where renewable energy attracts government support.

Leay is a backer of young renewable energy companies such as Windflow Technology, a wind turbine manufacturer in Christchurch, and Aquaflow in Blenheim.

Booth said Thermocell's technology is "cost-effective" and can be manufactured at a price competitive with systems imported from China.

The Thermocell system used less expensive copper in the design but was a highly effective system.

Thermocell Energy is the new company formed by Thermocell and Solar City. Booth said the company was in late stage discussion to do a pilot manufacture of the solar systems in California.

Greater uptake would lead to reduced price of a solar heating system and make it more attractive to home owners - not just new homes, but existing ones, he said.

Their research had found the capital cost put off about half the people surveyed. A solar water heating system costs $5000 to $10,000 to buy and install.

"My passion is to try and make a difference in the fight against climate change," Booth said.

Hot water heating forms about 35 per cent of a household electricity bill and Booth said savings could be substantial. A solar system could save a household more than the tax cuts have.

Thermocell is likely to pitch to install solar hot water heating systems in Nelson in a scheme being subsidised by the Nelson City Council.

Williamson invented the technology about 30 years ago and initially produced the solar heating off-and-on in the late 1970s and early 1980 before the market waned.

He said solar water heating again took off in the late 1990s and the numbers of installations rose to a peak in 2006 but had fallen away since then.

The former Labour government's grant scheme backfired because the accompanying stringent regulations had deterred investment.

- © Fairfax NZ News