It is time to go solar!
Admit it. You’ve thought about going green and installing solar panels but haven’t got around to it, or thought you’d do it another time.
However, the recent headlines confirming that energy prices are likely to increase substantially have altered the ROI on installing panels. Here’s how:
In 2021, the cap level has risen twice in the same year for the first time and is now at its highest point ever, creating an energy crisis. The energy price cap rose to £1,138 from 1st April – a £96 rise for “medium” energy users. From 1st October, another 12 per cent increase will come into effect, with the cap rising to £1,277.
With the electricity crisis continuing in the UK, this will threaten a wide range of industries, small energy firms, and households. However, despite a drastic rise in utility prices, renewable energy continues to see a considerable decrease in the cost of buying and installing solar systems.
Solar power has now become a sustainable and cost-effective energy alternative for business owners and can provide multiple advantages in the long run. Commercial solar PV installations provide a solid return on the investment, why? It is estimated that a typical commercial solar panel system will achieve financial returns of up to 20% per annum and pay back installation costs, within approximately 5-years. As well, a typical 250kWp solar PV system will offset approximately 64 tonnes of CO2.
All UK businesses will need to be carbon zero by 2050, so now is the time to get a head start.
The Smart Export Guarantee (SEG) allows suppliers to set the price for the energy they purchase. According to the legislation, rates can be flexible or fixed, so long as they are above zero.
While these rates may vary, expect for them to mimic wholesale and market prices. This could equate to a sizable profit from the excess energy exported from your solar panels.
Some energy providers are offering around 5.5p/kWh of exported electricity, with a 4kWp solar panel system could make around £340 per year! This is just another great way to encourage people to use renewable energy.
The Overall Benefits:
- Whilst energy prices have increased year on year, the price of installing solar has plummeted.
- Solar PV generates energy no matter the weather because the sun gives off light even on cloudy days.
- Earn money from your panels with SEG.
- 25-year fixed-cost for solar energy generation and minimal maintenance of the solar PV system.
- Altogether, solar energy is 60-70% cheaper than buying from the National Grid.
- Tapping into an unlimited clean energy source, will reduce your carbon footprint!
To summarise, solar panels for commercial buildings provide businesses with the chance to save and make money, promote themselves as a green and socially conscious business, and avoid becoming victims to future price rises in the energy market.
Start your solar energy journey with us:
Our team are more than happy to take your call and organise a video consultation to show you how we design a system that works for you. We can then send you a free, no obligation quote!
Call us today!
t 0330 0552155