A few years back, the UK government offered grants for commercial and residential consumers to switch to solar energy. The Green Deal offered interest-free grants and loans in 2013, but it ended in 2015 due to a lack of interest. The Feed-in Tariff, introduced in 2010, expired in April 2019 because of the increase in solar panel installations. The cost of the panels dropped by around 70 per cent, so the government deems that consumers do not need subsidies anymore.
Saving the environment
Part of the UK’s initiatives to save the environment is to push the use of greener electricity. While residential places were first to respond, many commercial establishments followed suit. Today, even smaller businesses are switching to solar power, since the initial investment is now much lower.
Benefits of using commercial solar panels
In the past, only large companies were able to afford solar panel system installations. Today, medium and small businesses can afford to invest in clean energy. They also realise that doing so provides them with several benefits.
- Shorter break-even period
The use of solar energy in the UK accelerated around 2010 due to the grants the government offered. But only larger commercial establishments were able to afford the initial cost. Likewise, it took around 15 years for businesses to realise their return on investment during the early years.
Recently, the price of solar panels has fallen drastically, and the cost is going to fall further. With the considerable reduction in price, it is now favourable for medium-sized and small businesses to invest in commercial solar panels because they can realise their ROI in about three to five years.
- More efficient power storage
Initially, the downside of solar energy is that the consumer should use it as soon as the energy is produced. Now, there are excellent storage batteries to store solar power, giving consumers the power they need at any time. The heavy-duty batteries last almost as long as the life span of the solar panels. The batteries require very little maintenance, which significantly cut operating costs.
- Power purchase agreements
Businesses that cannot afford the cost of investing in solar panels still have other options. Some solar power installers offer a solar power purchase agreement to make the installation economically viable. If a business meets the criteria, the installer will install the solar panels at no cost. The firm buys solar energy from the installer at a much lower price, allowing the commercial establishment to save. Moreover, the business owner will not pay for the maintenance of the solar panel system.
- Energy security
Energy cost keeps rising, so if your business is a high-energy user, an independent commercial solar panel installation can save thousands on energy bills. You will generate free electricity for your business by installing commercial solar panels. You can sell the excess, giving you additional opportunities to earn. With a stable supply of energy, your firm is free from power outages.
The productivity and profitability of your business are dependent on energy. Your use of solar energy shields your company from inflation and the rising cost of power from the national grid.