Thinking of investing in commercial solar panels for your business but still need to be convinced of the benefits or return on investment they can provide? This guide explores how to calculate whether commercial solar panels are worth it and how they can boost your property value.
Are Commercial Solar Panels Worth It?
You may be wondering, “Are commercial solar panels worth it?” and it will require a few questions to be answered. You’ll want to know how much roof space you have, how much energy you need and even the design or orientation of your roof. All these factors could impact the accessibility and productivity of your solar panels. While there are curved panels suitable for non-flat roof surfaces, these are more expensive.
If you’re concerned about the upfront installation costs, it’s worth researching schemes that can help you save (or even make) money.
The UK government offers grants, including the Energy Transformation Fund to help support the cost of installing commercial solar panels.
There are also local grants available that are worth researching.
Money-making schemes include the Smart Export Guarantee. Compatible with solar panel systems that generate 5 megawatts (MW) or less, this scheme lets you sell energy to the National Grid. This won’t leave you rolling in money, but with the capacity to make hundreds of pounds every year, it’s worth factoring that into your return on investment and budgeting justifications.
Calculating how long it would take to pay back the cost of buying, installing and maintaining your solar panels may help you decide whether it’s worth it or not.
However, to explore this topic further, we’re listing some of the benefits you can enjoy with commercial solar panels.
Benefits of Commercial Solar Panels: How Do They Boost Your Property Value?
Solar panels can make your commercial property more appealing to buyers and investors. With solar panels installed, your commercial property value could increase by around 5%. Let’s explore some of the factors that contribute to this:
Reduce Monthly Energy Bills & Overhead Costs
Energy bills using electricity from the grid are increasingly expensive for businesses.
Your business won’t just benefit from lower energy bills, as using power from the sun isn’t chargeable. You’ll also be able to enjoy more stable electricity costs that aren’t affected by the inflation of electricity. In fact, you could reduce your electricity bill by as much as 64%.
Make Money on Energy You Don’t Use
Energy you don’t use can be sold back to the grid. You can talk to your energy provider to find out what they would be prepared to pay. The payments available vary greatly between suppliers. The UK average is about 6p per kWh.
Store Energy to Use When the Sun Isn’t Shining
Storing energy when the sun isn’t shining relies on having solar batteries. The system would monitor incoming and outgoing energy and send excess production to the batteries. The stored energy can then be used in the evenings or on dull days when there is no more sunlight to generate power from. It is also possible to use the batteries to store cheap rate energy at night if necessary, and then release it when the rate is higher. Batteries are well worth having as they help you use more of the energy created by your panels, even if you don’t use it straight away.
Become Less Reliant on the Grid
Part of being more sustainable is generating power so you don’t have to rely so much on the grid. Should the grid experience power outages, you won’t have to worry about downtime affecting your business operations. This would require batteries to store sufficient energy to run your site without mains power. As well as ensuring optimum productivity, you can also maintain the security and safety of your site.
Reduce Your Environmental Impact
Solar panels also help reduce your carbon emissions and your impact on the environment. As a secondary benefit, you can create a positive image around your brand, showcasing your commitment to a greener, more sustainable way of doing business.
Get Your Solar Panel Installation Project Underway
GlenFarrow offers a full turnkey solution for solar panel design, installation and maintenance for businesses. To maximise your solar PV energy generation, we can also install battery storage. For more information on commercial solar panels, please get in touch with our team, who will be happy to discuss your project in more detail and offer their expert advice. We can also offer a full energy audit to ensure you’re choosing the right system for your business.
