4 Benefits of Solar Panels for Businesses

Solar or green energy has become increasingly popular with consumers in recent years. Currently, over 1 million homes in the UK have solar panels installed, meaning many homeowners are benefitting from the lower bills this can bring and reducing their daily carbon footprint thanks to a decreased reliance on fossil fuels.

However, more and more businesses are realising the potential solar energy has. Now, one in three businesses use solar PV to generate their own power. Solar panels work by converting sunlight into electricity using photovoltaic cells, which are made of semiconductor materials. The commercial sector has huge untapped potential, and if you own your own business premises and you want to look into how you can improve your carbon footprint, reduce your bills or become more sustainable, then it can be worth considering having solar panels installed on your buildings where possible.

If you want to know a little bit more, these benefits of installing solar panels for business can be just what you need to hear.

Lower Electricity Bills

The main and most obvious benefit of adding solar panels to your building is that you can benefit from lower energy bills. Solar panels for businesses typically deliver electricity at a cost of 5p per unit. The national grid is around 11 to 15p for the same amount of electricity. As you can clearly see, the price is massively reduced. And if you generate more energy than you need, you can also sell some electricity back to your energy company through a process called net metering. This can get you up to 35p per unit, meaning you can make even more money if you generate a surplus and even possibly bring your energy bills down to zero and generate a profit. The less money you’re paying on energy bills, the more money you have to reinvest in other areas of the business.

Fewer Emissions

One of the best things about getting solar panels installed for your business is that you can commit to reduced emissions. Solar energy is a clean, renewable source that produces no greenhouse gas emissions during operation. By switching to solar, your business can significantly reduce its carbon footprint, contributing to a healthier environment and a more sustainable future. This is particularly important in the context of climate change, as reducing greenhouse gas emissions is crucial for mitigating its effects. Companies have a corporate social responsibility to ensure that their business is doing everything it can to operate in a more positive and socially responsible way, and a part of this is reaching your impact on the environment.

Having a solar PV system for your business in tally reduces your reliance on fossil fuels and allows you to utilise the natural power of the sun to run your business, and in turn, you get peace of mind you’re taking a step in the right direction.

Increased Sales and Reputation

Numerous studies have shown that UK consumers are more willing to purchase from brands that have environmental initiatives in place. They’re willing to pay 25% more for products if they’re more eco-friendly and are switching how they purchase and what they purchase to be more sustainable. If you’re able to cater to these customer trends, you can boost your profile reputation and even your sales. Installing solar panels is one such way you can improve your eco credentials. Using this fact in your marketing materials or as part of your sustainability manifesto means you can appeal to the large section of consumers who are looking to businesses to lead the way and will align themselves with those with the same values they hold too. This not only benefits your bottom line but also enhances your brand’s reputation as a socially responsible business, attracting more customers and fostering loyalty.

Good ROI

Typically, businesses that install solar panels see a return on their investment in 6 to 8 years, which is considerably shorter than the time it takes for conventional residences. On top of this, the ROI of solar panels is around 12 to 14%, making it extremely attractive to many business owners. This means that after the initial investment, your business can enjoy free electricity for the remaining lifespan of the solar panels, which is typically around 25 to 30 years. This long-term financial benefit can significantly outweigh the initial cost, making solar energy a smart investment for your business.

If your business has a high energy consumption, this can be a viable option for you to cut costs and get a good return on your investment. After all, you’re in business to make money and should be diversifying how you do that.

Plus, solar panels are extremely low maintenance, and once installed, they require very little care and upkeep, meaning you don’t need to invest large sums in cleaning and maintaining them or having repairs carried out. It’s good to know that most solar panels are guaranteed for around 25 to 30 years and require cleaning only every 12 to 24 months, depending on the environment. This low maintenance requirement ensures that the benefits of solar energy outweigh the minimal upkeep costs, making it a hassle-free and cost-effective solution for your business.