Business hots up for solar power
Business is hotting up for solar power company
The future’s bright for energy specialist
A solar power company in Gloucestershire is basking in record orders as businesses and home owners see the light about securing energy supplies and cutting bills. Toddington based Mypower predicts a glowing future for solar energy as companies realise they need to act quickly to safeguard supplies.
Fears of gas running low, rationing and spiralling energy costs have sparked renewed interest in green and secure energy supplies.
Mypower manager Ben Harrison said: “We have record orders and a pipeline of contracts in excess of 3 mega watts."
“Our customers are now looking to protect themselves against increases in energy costs in the short and long-term as the facts behind Britain’s energy security vulnerability are becoming more widely known.”
“SolarPV is a great option for businesses, home owners, organisations and clubs as it’s such a green and long-term option."
“It also makes sense economically. Installing solar PV offers a fantastic return on investment. It pays for itself over a relatively short time and then you can start enjoying the savings and income.”
The sun is free and, despite the poor summer of 2012, the sun is still doing it’s job and providing solar power, often achieving 5% more output then predicted”
Now is the right time to buy as the cost of solar panels has halved in the past 2 years but is starting to slowly rise again.
Mr. Harrison said: “Now is a tremendous time to buy. The cost of the panels has reduced by 50 per cent in 24 months and has now bottomed out. Modest price increases are starting to occur as manufacturers can no longer cope with the losses sustained during the highly-competitive previous year.
Stow Rugby Club Benefits From Solar Power
One local customer, Stow Rugby Club, realised solar power was a win-win option and teamed up with MyPower.
Committee members invested £55,000 in solar PV in February 2012 to reduce bills, cut the club’s carbon footprint and secure its energy supply for the future.
Full payback will take about five years but they estimate the income and savings over the 25-year lifespan of the system will be more than £400,000.
It is estimated that the 126 panels on the clubhouse roof will produce 27,000kw electricity a year, saving 11.7 tonnes of C02 a year and generate 20 per cent return on the capital in the first year alone.
Agicultural Building Case Study
Another customer who will soon be reaping the benefits is a landlord who owns agricultural buildings in Cornwall.
MyPower installed 1,466 panels across three roofs at a cost of £400,000. The landlord’s first year return on capital will be over 15 per cent, with payback in six years. The total return over 20 years is expected to be more than £2,000,000.