Benefits of Solar PV For Small Businesses
Research from the Federation of Small Businesses has shown that 1 in 10 small businesses are generating their own power on site. The majority of these businesses are using primarily Solar PV to generate free renewable energy, showing how Solar PV has become more accessible and cost effective.
In previous years, Solar PV installations were an expensive option that was not easily available, but since 2012 the cost of a 50kW system has dropped by more than 30%. With an installation of this size a business is paying around 5p per unit or less per unit for their electricity, much less than costs for grid supplied power from major suppliers. Current electricity prices are around 11p-15p per unit but these prices are set to increase further, making the savings from a Solar PV installation even greater.
Not only does a business pay less for their energy, they also have a fixed price of 5p per unit for 25 years irrespective of the prevailing rate of energy cost inflation. This protects businesses from inevitably rising energy costs, ensuring they will pay less for a very long time. Most Solar PV installations have an average payback of 5 to 8 years and will make a business cash flow positive in just 2 years. Little maintenance is required and all panels come with a 25 year performance warranty, at which point the panels are expected to still produce 80% of their original output.
The renewable energy that a business generates from solar panels can be used for free within the business, whilst they also receive feed-in and export tariffs – Generating a 20 year income stream.
As a Carbon Trust Accredited supplier and installer of Solar PV, we can help qualifying SME’s claim rebate grants of up to £5,000 on their installation. To see how Solar PV can help to power your business, get in touch and book a no-cost initial survey with us today.