ASB is offering loans to help farmers balance their energy costs. 

They’re offering five-year, interest-free loans of up to $150,000 for the installation of solar and battery systems on their properties. 

The bank said farm electricity costs are rising, with the average 2025/26 season power bill expected to be around $28,000 for owner-operated dairy farms. 

Research found most farms have rooftop space available for solar, and 60% of farmers say they have land that could be used for solar without reducing production. 

Rural General Manager Aidan Gent told Kerre Woodham the main barrier to electrification in rural areas was a lack of understanding as to what it would mean for them to electrify their farms, as well as what the cost and payback would look like. 

He says the bank is trying to ease access to capital, but also provide tools that help bring it to life. 

Electrifying rural areas would also be a major boost to resilience, Gent says, as in the event of a major weather event like Cyclone Gabrielle, it’s much easier to distribute power from farmers’ set ups rather than waiting on the main lines to be repaired. 

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