Solar energy is becoming a major trend in the UK. The government has committed to make 15% of the UK’s energy usage to be from renewable sources by 2020.
Therefore, there are opportunities for businesses to be at the forefront of clean, cheap and socially responsible energy which offers a great return on investment.
So how much will commercial solar energy save your business?
Are there incentives, grants or government schemes for commercial solar energy?
One of the major benefits of getting your business’ premises some solar panels is the financial help you can get. The government’s main scheme is the Feed-In Tariffs available to those with solar energy.
This is where the government pays the company for the energy generated by their solar energy system.
There are also benefits for those that produce more than they use and export the excess energy to the national grid.
In some areas of the UK, you can also be offered a grant by the local government to switch to solar energy. Some businesses can also get free solar panels, but this is often instead of the Feed-In tariffs mentioned earlier.
What are the benefits for companies using commercial solar energy?
While the installation of commercial solar panels can be offered at low costs, this isn’t the only benefit for businesses looking to benefit from solar power. There are numerous other benefits that mean your ROI for the installation can be higher than expected.
The first benefit is the obvious reduction in energy bills that businesses can get. This can be particularly great as energy prices continue to rise.
Between 2017 and 2018, energy prices increased from 2.5% to 11% depending on your supplier.
Those with lower increases were often already paying a premium for their energy usage.
In addition to reducing the costs of your energy, solar panels can add value to commercial properties. So, if you’re letting your building to other commercial entities or looking to sell your business’ premises in the future, the value of the property will be higher.
These benefits are further supplemented by the fact that solar panels require little or no maintenance. An installed solar panel could run effectively for 25 to 40 years without needing any maintenance work.
Marketing benefits of solar energy
Solar energy can be a significant draw for consumers to use your business over competitors.
A report in 2017 stated that a third of consumers prefer companies using sustainable energy sources over other companies.
This trend is particularly true for younger customers.
Therefore, demonstrating that you have taken steps to reduce your carbon footprint can be a great marketing bonus.
It also helps you to increase revenues with customers. Research has shown that consumers are willing to spend more on goods from environmentally friendly companies.
This can allow you to raise prices and increase profits which will offer you a great financial outlook for your business.
All these benefits make it easy to see why solar energy is a growing trend and why so many businesses are taking advantage of government incentives and other financial benefits that make solar energy so lucrative.