No matter what type of business – whether it’s agricultural, commercial or industrial – solar panels can be hugely beneficial environmentally and financially. With government incentives and pressures to become eco-friendly, converting to renewable energy has become a must in recent years.
What are the financial benefits?
It’s true that installing solar panels is an investment and converting is a long-term commitment. However, after just one year, Mypower customers see between 11% and 16% first year returns on this, meaning that after 6-9 years, they receive a total system payback.
As well as this, the Government’s ‘Feed in Tariff’ scheme means that businesses are rewarded for every Kwh of electricity produced with the installation of solar panels. These payments are guaranteed for 20 years and are there to make the installation of panels more affordable for businesses.
The need to buy electricity from a supplier will disappear when using onsite solar panels, which will achieve a large saving long term. Of course, the amount you save by using solar panels is dependent on the size of the system.
Another financial benefit is the fact that panels provide financial stability. Energy prices are predicted to double over the next 10 years, but solar panels used for commercial use allow businesses to ‘forward buy’ electricity. This is at a set price of about 5p per unit, meaning that businesses would be protected from energy price rises in the future.
What are the environmental benefits?
The biggest environmental advantage of converting to renewable energy is reducing carbon footprint. The term ‘carbon footprint’ simply refers to the overall amount of greenhouse gas emissions, primarily carbon dioxide, produced by an individual or business. If these emissions increase, the size of a carbon footprint rises, too. This is associated with climate change and therefore is a large factor contributing to global warming.
As a result, it is becoming a top priority for businesses to help reduce this effect and minimise their impact on the environment. Installing solar panels will significantly reduce negative impact on the environment; systems installed by Mypower are saving over 3,000 tonnes of CO2 every year and are almost completely eliminating businesses’ carbon footprints.
- You do not normally need planning permission in order to install a solar panel system, unless the building is listed or in an area of conservation.
- Once installed, solar panel systems don’t generally require a lot of maintenance. Cleaning them twice a year should ensure a safe and durable system.
- The source of energy will never be exhausted.
- A 25 year guarantee: the panels will still produce 80% of the electricity they produce on the day of instalment in 25 years’ time. However, their lifetime is expected to be much longer than this.
Any size business can benefit from the rewards of solar panel energy and are able to take control of their electricity supply from their own premises. Yes, panels are weather dependent, but as the majority of businesses only operate during the day, companies can save a significant amount of money on their electricity bills.