Mypower customer installs solar PV at second site and looks forward to £175,000 of savings & income
Rocket Rentals is a family run business offering plant and machinery hire and sales in Gloucestershire. In 2011, Mypower installed a 10kWp industrial solar power system at their premises near Cam. The business has now outgrown the existing site and they have built a new commercial workshop and offices. Having seen fantastic returns and won a major plant hire contract for sustainable homes following their investment in renewable solar energy, Rocket Rentals knew they wanted to install solar PV on their new building, too.
Mypower were contacted prior to construction, so we were able to offer advice and provide hints and tips before building work commenced. We advised on several points such as electricity connection, timing the industrial solar install to coincide with existing scaffolding and netting, and the design and layout - all of which saved the business money.
Key facts and predictions - amended to September 2019 rates
- £21,500 - cost exc. VAT.
- 29.76kWp - installed by Mypower.
- 26,653kWh - electricity produced per annum (site specific prediction from PV Sol, typically conservative by 2 to 10 %).
- 9 tonnes - CO2 emissions avoided per annum.
- £3,145 - projected first year income and savings assuming 70% of electricity used on site.
- 14.6% - projected first year return on capital invested, before capital allowance benefits.
- 6.8 years - system payback before finance, tax and capital allowance benefits including electrical upgrades.
- £165,653 - total projected income and savings over 25 years after indexation.
- 5.05p/kWh - equivalent forward purchase price including operations & maintenance costs.
While Rocket Rentals could fit up to 34 kWp on the roof, we provided our usual honest, professional advice and suggested limiting it to 30 kWp to avoid the additional export metering costs and charges.
With 70% of the solar electricity generated used on site, the 115 REC solar panels will produce savings and an income of £175,000 over 25 years. This means that Rocket Rentals have effectively forward- bought their electricity at 4.5 pence per unit compared to an estimated 13 pence per unit from a mainstream energy supplier. Of course, they will not be exposed to any electricity price rises in the future from their solar electricity.
Solar panels were installed during construction of the new building which meant cost savings
Ben Harrison, who heads up Mypower, said: "It was a pleasure working with the team from Rocket Rentals again. They deserve the success they have achieved and the solar panels will help contribute to their future growth".
"As we have expanded the business, our power costs have increased. With solar offering cheaper electricity, a good return on investment and the commercial benefits of being a 'green' plant hire Company, it was not a difficult decision to make. The solar will also really help us towards our ISO 14000 accreditation.
We were very pleased with the first installation Mypower did for us in 2011 and had no qualms in asking them to quote the industrial solar panel cost for our new building. The upfront advice received from Mypower was very helpful and their involvement with Western Power Distribution saved us some money. Ben worked with us every step of the way to dovetail the installation in with the erection of the new building, saving us money on access and scaffolding. He was very professional in all that he did, taking control but keeping us fully informed throughout the project and dealing with all the paperwork. The installation team were friendly, helpful and flexible with all going to plan and the deadlines being met."
Simon Tomblin, Managing Director - Rocket Rentals
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