Why You Should Install Solar Power for Your Business
Installing solar power systems offers a variety of monetary, environmental, and operational advantages for businesses. With energy prices rising and sustainability increasingly relevant for ESG purposes, solar offers a competitive advantage for many businesses.
The most obvious advantage is lower energy bills. This provides more head room for businesses to reinvest or take as profit. With energy prices high in recent years, solar panel installation can reduce reliance on the grid and lower bills. It can also avoid expensive peak time charges.
Government incentives and support
A number of schemes exist that benefit businesses installing solar energy systems:
- Smart Export Guarantee (SEG): Businesses can generate income by exporting excess electricity they generate back to the national grid. This makes the financial case for solar even stronger.
- Capital Allowances and Tax Benefits: Businesses can claim tax benefits through the Annual Investment Allowance (AIA). This allows them to deduct the cost of solar installations from their taxable profits.
- Renewable Energy Grants: The UK government occasionally offers grants or funding options to support the transition to renewable energy. Be sure to research any available programs that may apply to your business.
The stability of the energy market can often change, which provides another reason to look at solar power. Generating electricity onsite reduces a business’s exposure to these markets. This provides more certainty for business owners when forecasting their finances.
Corporate social responsibility (CSR) initiatives such as installing solar panels also makes businesses more desirable to environmentally conscious customers, as well as new investors. Furthermore, the Government has committed to achieving net-zero carbon emissions by 2050. Therefore, businesses will achieve this if they take steps towards it now.
The benefits to business
Industries like manufacturing, retail, and data centers can benefit from solar panels. These panels can power batteries during a power cut in the main grid.
Installing solar panels can also make businesses eligible for BREEAM or Carbon Trust certifications. This enhances their CSR and ESG credentials.
Any commercial property with solar panels will increase in value. Buyers and renters both appreciate energy-efficient solutions. The lower energy costs and environmental advantages derive this value. Investors, buyers and renters will see the long-term returns and reputational advantages of a green asset.
Energy flexibility
Depending on the size of the business, solar systems can be of a size that suits the needs of the business. A data center or warehouse can expand its setup on the large roof. This helps meet power demands and reduces reliance on the grid.
Support for local communities and economic growth
Solar supports new jobs in the local community, including in installation and maintenance. Investments in solar help grow the green economy, the transition to renewable energy, and the fight against climate change.
Using the available financial incentives can help businesses switch to renewable energy. This change will improve their financial and environmental standing.
Solar energy saves money on bills and reduces dependence on the grid. It also protects against price changes. This makes solar a smart investment with many benefits for a business.
Apertus Group can help procure and project manage the installation of solar panels for environmentally conscious businesses.
Learn more by emailing info@apertusgroup.co.uk or calling 01604 212 828.