7 Reasons Why Commercial Solar Panels Are Popular with Businesses
Solar panels have become a popular alternative for businesses seeking environmentally friendly alternatives to fossil fuels. Besides being better for the planet, solar panels are also cost-effective, easy to maintain, and give an attractive return on investment (ROI).
Here are the top seven reasons why commercial solar panels are popular with businesses:
1. Solar panels are cost-effective
Commercial solar panels have lower operating costs and can significantly reduce your electricity expenses. The average business in the UK spends around 15p per unit on electricity. With solar, this is reduced to roughly 4-5p per unit.
A typical medium-sized business uses 80,000 kWh of electricity each year, costing approximately £12,000. Installing commercial solar panels could cut your electricity bill by a third, resulting in significant long-term cost savings for your business.
2. Solar panels are eco-friendly
Generating electricity from fossil fuels releases carbon dioxide and other greenhouse gases into the atmosphere. This causes environmental pollution and contributes to global warming. In 2018, 89% of global Co2 emissions came from fossil fuels and the cost of air pollution from fossil fuels had reached an estimated £5.8 billion per day.
Solar panels reduce Co2 emissions and produce clean electricity on-site. When you install a commercial solar panel system, you will reduce your carbon footprint and show your commitment to environmental sustainability. Commercial solar panels will help you meet your green targets while saving money and slashing overhead costs.
3. Solar panels improve brand image
Modern consumers are becoming more eco-conscious and want to support green companies. In fact, a recent survey found that 88% of consumers want brands to help them become more sustainable and ethical. There is a huge demand for sustainability and green brands have a significant advantage over their competitors.
It has never been more important for businesses to demonstrate corporate social responsibility. Installing commercial solar panels is a visible way of showing your support for the environment. This will boost the green credentials and reputation of your brand, which in turn, will help you attract customers and increase sales and profits.
4. Solar panels are easy to maintain
Commercial solar panels require very little maintenance once they have been installed. The panels have no moving parts, and usually come with 25-year performance warranties that outline that the panels are expected to generate at least 85% of their Year 1 output at the 25-year point. The inverters that convert the generated electricity from DC to AC current and synchronise with the grid typically come with 10 year warranties and are easy to access and relatively inexpensive to replace. The requirement and schedule for cleaning panels is very dependent on the environment the system is installed in. Consideration for cleaning and roof level ongoing maintenance at design stage can make any future maintenance requirements straightforward.
This makes commercial solar panels a cost-effective solution for businesses, helping to save money while minimising electricity costs and on-site maintenance.
5. Solar panels give a good ROI
Commercial solar panels may seem like a big investment but installing a solar panel system pays off over time. The payback time for solar panels is between 5 and 8 years and the ROI is between 14% and 16%. This means your business should recoup the initial installation fees quickly and then enjoy long-term cost savings.
6. Solar panels provide energy security
Commercial solar panels allow businesses to generate their own electricity on-site. This means they become less dependent on the National Grid. Besides benefiting from the cost-savings mentioned above, with the addition of battery storage solar panel owners also have a reliable backup source of electricity if there is a power outage or another issue with the National Grid.
Having energy independence and security is especially important for businesses, as downtime can cost owners huge amounts of money in lost productivity and revenue.
7. Solar panels are becoming cheaper
The UK’s solar market is booming and the price of solar panel systems has dropped by an impressive 82% in the last 10 years according to the International Renewable Energy Agency (IRENA). Solar panels have seen the biggest cost decline of any electricity technology over the last decade.
The best part is solar technology is still becoming cheaper, more efficient, and more accessible to both commercial and residential customers. The levelized cost of electricity for solar PV is already competitive now compared to all generation sources (including fossil fuels) and is expected to decline further in the coming decades
There are loads of great reasons to install solar panels on your business premises. Commercial solar panels are cost-effective, sustainable, and easy to maintain. Installing solar panels will show your support for the environment, which will boost your brand image and appeal to eco-conscious consumers.
Get in touch if you would like to discuss how commercial solar panels could benefit your business.