Allen Fabrications Ltd - Landlord invests to turn dead roof space into a profitable asset
Allen Fabs are a high quality industrial and agricultural building designer and manufacturer who have been established for over 40 years. They also own, let and manage their own commercial property portfolio. Based in Evesham, Allen Fabs' clients are located throughout the Midlands and South Worcestershire.
We first met Craig Sharp, Managing Director at Allen Fabs, 2 years ago when we asked for a quote to re-roof Stow Rugby Club, which we were installing solar panels on. Since then we've kept in touch and in September 2013 Craig contacted Ben Harrison, Mypower's General Manager, to request a quote. Craig was looking to be 'greener' and wanted to help his tenants with electricity costs whilst seeing if there was a good return on investment in solar as a landlord. Allen Fabs have several commercial buildings at Vale Park West Industrial Estate in Evesham which they were looking to install solar PV.
Awarding the contract
Following several meetings and a competitive quote situation, Craig clearly saw the benefits of using a professional firm, like Mypower, who have strong customer and project management skills and who would keep their tenants 'on board' throughout the project. Also when it comes to construction, Allen Fabs know the importance of using a quality solar installation team who are appropriately trained and qualified to work on roofs and who ensure care is taken not to cause damage to the roof. They had already been offered lower performing and cheaper solar modules as an alternative, however Craig appreciated the benefits of using the high quality, high yielding but more expensive REC panels. For these reasons and along with an excellent project management background, the contract was awarded to Mypower.
Within 2 months of the first meeting, all consents had been obtained, systems designed, installed and operational along with FiT forms fully processed by Mypower on behalf of Allen Fabs.
Craig can now sit at his desk and monitor the daily solar production on his laptop knowing that as a landlord this was a good investment, turning dead roof space into a profitable asset. Craig is now be looking at other buildings within his portfolio to assess their suitability for solar PV. We look forward to many more projects with Allen Fabs.
Mypower have now installed 5 separate systems for Allen Fabs.
"I had been thinking about investing in renewable energies to make our properties more attractive to tenants. Solar was a logical investment and offers protection against rising electricity costs which means we can pass the savings onto our tenants". Craig Sharp, Managing Director.
Key facts and predictions for one of Craig's 50kW installations at September 2018 rates
• £39,500 - cost exc. VAT.
• 50kW supplied and installed by Mypower.
• 47,000kWh of electricity produced per annum (site specific prediction from PV Sol, typically conservative by 2 to 10% or more.)
• 16 T - CO2 emissions avoided per annum.
• £6,580 - Projected first year income and savings, assuming 60% onsite usage.
• 16.7% - Projected first year return on capital invested, before capital allowance benefits.
• 6.0 years - System payback before finance, tax and capital allowance benefits.
• £280,353 - Total projected income and savings over 25 years after indexation.
Managing Director, Craig Sharp...
"I had been thinking about investing in renewable energies to make our properties more attractive to tenants. Solar was a logical investment and offers protection against rising electricity costs which means we can pass the savings onto our tenants".