The Bank of Latvia concluded work on another solar panel park project. 384 solar panels with power output of 142 kW were installed. These panels will be able to produce up to 126 660 kWh of green electrical energy, as reported by AJ Power energy company.
Solar panels will ensure 49.71 less tonnes of CO2 emissions will end up in the atmosphere. This amount is equal to 2 260 trees.
It is planned for this new solar panel park’s green energy to cover 8% of Bank of Latvia Riga office annual electricity consumption.
This project’s investments reach EUR 124 154.
At current electricity prices the costs of the new solar panel park will be paid back within approximately four years.
According to the Bank of Latvia climate change experts, Monetary Policy Office advisor Dzintars Jaunzems, wider use of solar energy is one of the measures the bank is putting in practice in the field of energy efficiency and renewable energy.
«The first solar energy project was implemented in 2018, when introduction of alternative energy sources in the corporate sector was in its infancy and electricity prices were relatively low,» said Jaunzems.
AJ Power company’s manager Roberts Samtiņš stressed that the Bank of Latvia as a state institution presents an example for sustainable solutions.
«We are happy to see this is the second solar panel project implemented in three years. The power output of these solar panels will help significantly reduce energy costs of the Bank of Latvia and further promote energy independence,» said Samtiņš.
This year’s project will help the Bank of Latvia more than double the percentage of solar energy consumed by its Riga office. It will also help move towards a more comprehensive use of electricity and implement more energy effective activities.