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Photovoltaic (PV) Solar Panels: Is Solar Energy a Good Investment?

Photovoltaic (PV) Solar Panels: Is Solar Energy a Good Investment?

According to the BBC the UK is being hit by roughly a 54% increase in energy prices and it is set to increase again in October 2022

 

A worldwide price increase in fossil fuels has seen the sharpest rise in UK energy costs in over 30 years and they will increase again by the coming winter. This has given rise to the importance of cleaner, renewable energy sources, in particular, solar energy.

Industrial and commercial property owners are turning to PV solar panels to offset some of the costs of their energy consumption. Many of these buildings have a lot of unused roof space, waiting to be utilised to harness the power of the sun. But what are the benefits?

To start, the sun is a free source of renewable energy accessible by anyone. It also appeals to consumers when they know that your business is making efforts to become as carbon neutral as possible. Renewable energy has been a hot topic for decades and can make or break a potential client or customers decision to buy from you.

There is also the potential to offset a large proportion of your energy costs. This could also leave you with the opportunity to sell energy back to the national grid any excess energy you can’t utilise. Aligning your company with the UK pledge to hit net zero emissions by 2050 could also see more benefits further down the road. The Intergovernmental Panel on Climate Change (IPCC) has recently released their latest climate change report stating that “The evidence is clear: the time for action is now. We can halve emissions by 2030 ” making it an ever increasing importance to become as carbon neutral as possible.

The Centre for Alternative Technology has a handy tool that you can use to work out how much your PV solar system will produce. You can also work backwards with this calculation to work out how big your system needs to be, compared to your energy consumption needs. It’s important to know this information and to consult a professional, so that you get the correct system installed.

Although solar panels can be a costly investment, there are schemes out there that can help property owners achieve their energy goals. The Solar Power Purchase Agreement (PPA) can help alleviate the upfront costs of installing a solar system. The manufacturer will design, supply, install and own the system, while the property owner pays a subsidised fee for energy to offset the cost of the installation. At the end of the contract (usually between 10-25 years) the property owner can remove the installation, buy the installation or extend the PPA contract. There are also other financial options as outlined in our Finance section.

Overall and over a relatively short time, you could see the benefits of having a PV solar system far outweigh the initial monetary costs and will help your company and the UK move toward a cleaner future.

Retain Energy have a working relationship with Q-CELLS and SolarEdge, two of the leading solar equipment manufacturers, to give you a professional and high-quality service and system. To learn more about these services, or anything else related to your energy needs, contact the Retain Energy team on 0800 027 2244 or fill in our contact form to request a call back.

Cleaner energy for a cleaner future.