Stewart Golf Ltd
Stewart Golf hits the green with solar investment
Stewart Golf is a British designer and manufacturer of the world's finest powered golf trolleys and accessories. The business was founded more than 15 years ago and its Gloucester headquarters are a 10,000 square foot facility. A major driver for forward-thinking Stewart Golf was reducing their environmental impact. Their investment in solar PV has made them significantly more energy efficient, while keeping their manufacturing costs as low as possible and reducing their carbon footprint.
Mypower designed and installed a 49.84kWp solar PV system that would meet nearly two thirds of Stewart Golf's annual energy consumption needs. The 178 panels fitted to the roof of their factory deliver 46,000kWh of electricity a year and save 15 tonnes of carbon emissions.
Stop the press!
Exactly two years after our first installation for Stewart Golf, and following the continued success and growth of their business, Mypower were asked to install a further 35.5kWp (in February 2021). This will bring their total installed capacity to over 85kWp, providing over 60% of their annual electricity needs. Stewart Golf’s electricity is now not only net-carbon neutral, but is also making a healthy contribution to reducing the carbon-footprint of the local grid.
Stewart Golf went 'large' with their system. By which we mean, their goal of maximising the long-term benefits of solar energy and reducing their dependence on grid supplied electricity, rather than targeting the shortest payback period. The 49.84kWp system Mypower installed will supply 60% of Stuart Golf's annual electricity requirements with clean, low cost electricity. As only 40% of the PV system's generation is expected to be used onsite, 60% will be exported/sold to the grid at around 5p per unit. This provides more opportunities for the future.
Key facts and predictions, with no subsidy/grants
- 49.84 kW (179 Panels) - installed by Mypower.
- 46,905 kWh - units of energy produced per annum.
- £4,287 - projected first year income and savings assuming 40% of electricity used on site.
- 12.1% - projected first year return on capital invested, before capital allowance benefits.
- 4.66 p/kwh - equivalent forward purchase price of 1,080,203 units of electricity over 25 years, including estimated operating and maintenance costs and excluding potential Annual Investment Allowance tax benefit.
- 15.5 tonnes - CO2 emissions avoided per annum.
- 8.3 years - system payback before finance, tax and capital allowance benefits
- £211,230 - total projected income and savings over 25 years after indexation.
- 69% - saving from solar PV electricity compared to grid supplied electricity at 15.35 p/kWh.
- In the first 10 full months of operation, the system produced 44,787kWh - 95% of the total annual production predicted in Mypower's initial quote.
Electricity consumption is likely to rise in the coming months and years, driven primarily by the impending Electric Vehicle (EV) revolution. EVs will increase Stewart Golf's electricity consumption, and will, in turn, use more of the solar energy they produce. This will reduce the system payback period under the commercial principle of less solar electricity being exported and sold to the grid at around 5p per unit, while more is used onsite to displace expensive grid supplied electricity costing around 15p per unit.
Battery technology was another future factor taken into consideration. The cost of battery storage continues to fall and grid supplied energy prices continue to rise, so it won't be long before battery storage makes great commercial sense for the excess renewable energy to be stored onsite. When the time comes, Stewart Golf will increase their already impressive statistic of providing over 60% of their electricity needs with their own solar PV system, and they will step much closer to their ultimate goal of being completely self-sufficient on their own, locally produced renewable energy.
"We're very proud that our new PV system will be generating clean electricity for our business for many years to come. Not only is it a great green decision, it's also a very sensible financial one, so it really is a win-win for us. Mypower made everything very straightforward. Their knowledge and advice about commercial solar PV gave us a huge amount of confidence to take our aspirations to 'go Solar' into reality and it was an easy decision to go with Mypower. Owning our own building means we can make long-term investment decisions. Going solar self-sufficient reduces our carbon footprint and helps generate green power to go back into the grid to supply other businesses and homes with solar energy."
Mark Stewart, CEO - Stewart Golf