ASB boosts solar support for farmers, as rising energy costs drive demand

As the Middle East conflict drives up on-farm costs and prompts thousands of farmers to explore solar, ASB has extended its SMART Solar Loan and upgraded its solar planning tools.

ASB SMART Solar helps farmers control their energy resilience and costs by generating their own power. Providing up to $150,000 interest-free for five years on solar and battery systems, the award-winning offer has now been extended to June 2027.

It's supported by Power My Farm, a New Zealand-first online tool developed by Prism Earth for ASB. Using laser mapping, farmers can identify the best location for solar panels on their land, and site visits have tripled since the Middle East conflict broke out.

"Farmers are at the mercy of increasingly frequent weather events and price shocks they can't control. Solar is a game changer for resilience, helping farmers work through outages without relying on diesel generators, and demand is ramping up," says ASB General Manager Rural, Aidan Gent.

ASB SMART Solar has supported hundreds of farms to electrify since it launched in June 2025. Around 500 farms use Power My Farm each month to see how solar stacks up, with 90% of them dairy farms.

"Because batteries are essential for a resilient solar set up, we've upgraded Power My Farm so farmers can assess their storage needs and costs," says Aidan. "Our tool calculates energy needs based on farm type and herd size, and potential cost savings, payback time and income from selling surplus solar generation back to the grid, so farmers can plan with confidence."

Matt Lythe, Managing Director of Prism Earth says: "Through the new battery and export modelling, farmers can see not only where to put panels, but how storage improves resilience and surplus power can generate income.  It's about turning solar into a strategic on-farm asset."

Research by energy transition charity Rewiring Aotearoa for ASB found that while there was 66% latent demand for electrification among farmers, the high upfront installation cost was the key barrier to uptake.

Rewiring Aotearoa CEO Mike Casey says: "We're seeing plenty of demand for solar, batteries and other electric upgrades in the rural sector right now as the price of grid electricity and imported fuels rises. Our research has shown that solar offers big savings, increased resilience and emissions reductions, so it's great ASB is helping to unlock that potential."

ASB SMART Solar recently won a Canstar Innovation Excellence Award, the first rural-focused product to win this category.

ASB is showcasing the enhanced Power My Farm tool at National Fieldays with the upgraded version available on the ASB website from 10 June.

The offer is available for existing and new ASB rural customers until 30 June 2027 at ASB's discretion. For more information see here.