Earlier this year, solar energy marked a milestone in the UK by providing power to more British homes and businesses than coal power stations over a 24-hour period. Over the same day, it was seen that solar generated 29 gigawatt hours (GWh) of power compared to the 21GWh generated by coal-fired power stations.
In October, it was revealed that solar panels provided more power than coal for six months of the year in total, with April to September being heralded as prolific months in the history of clean energy.
There has been an increasing move towards alternative energy sources in recent years, with a number of businesses moving to install solar before changes to the government subsidy program were introduced in February (more on that later). The shift isn’t just happening across the UK though – over £113 billion was invested into solar power globally in 2015. So could solar be right for your business?
We take a look at five compelling reasons to give solar investment some serious thought…
Should you consider solar energy for your business? Consider these:
It’s easy to do
With solar panels now costing 80 per cent less than they did five years ago, utilising solar energy has become a more realistic option for business premises across the UK. Solar panels can be easily installed, too; photovoltaic farm panels are laid and connected via a solar cable, and these panels last for a minimum of 25 years. You should ensure your system is installed by professionals using accredited panels, and that the solar cable used has a TUV certification to be sure of it’s high quality.
Lower your energy bills
The solar energy generated will greatly reduce your utility bill and lower your carbon emissions, both positives for business owners. Rising energy costs are becoming an increasing point of concern, and so with solar in place, you will have some protection from price inflation that may occur in the wake of both Brexit and the US election results.
Claim tax benefits
The government overhauled it’s “feed-in tariff”(FIT) scheme in February of this year, but businesses can still apply to receive rebates from their energy supplier for generating it’s own electricity. Once your solar system is connected to the grid, you will receive money from your supplier for the units of electricity generated, and any surplus units can be sold back to your electricity supplier in exchange for an export tariff. There are calculators on the government website designed to help you work out how much you could receive – for some businesses, it could amount to recouping the cost of the installation in as soon as 10 years.
Increase your business
Positioning environmental responsibility as a key focus for your business can be attractive to investors and consumers alike. Making sustainability a priority can therefore be good for business, and help improve your Corporate Social Responsibility (CSR) efforts.
It’s the future
Finally, alternative sources like hydro, wind and solar are becoming the future of energy provision as traditional resources fall in supply. It’s projected that 13GW of solar capacity will have been installed throughout the UK by as soon as 2020, and so as more businesses and homeowners will move to make the smart choice, you can be ahead of the curve and start enjoying the many benefits of solar power sooner.