If the recent research carried out by the Stockport-based Project Solar UK is anything to go buy, the UK’s leading brands are blazing a trail for others to follow when it comes to renewable energy adoption.
According to this data, Associated British Ports (ABP), Marks and Spencer and Amazon are amongst the top firms committing to renewable energy on these shores, with the former topping the leaderboard having installed the largest rooftop system in the UK complete with 2,100 panels.
But what are the benefits of investing in solar, and is this something that can lead to a brighter future for your brand?
The Benefits of Solar Power
As promised, we’ll start by providing a brief insight into the benefits of installing solar panels on behalf of your business. Here are some options to keep in mind:
- #1. Earn a Profit on Excess Energy: Thanks to a revamped initiative in January 2020, businesses can both reduce their energy costs and make a profit by selling excess energy back to energy providers. Because of this, it’s possible to recoup the total cost of your initial installation in less than 10 years, while all product warranties now last for 25 years or more.
- #2. Tackle Core Environmental Issues: Corporate social responsibility represents big business in the modern age, with this driven by changing consumer habits and a growing emphasis on sustainability. With this in mind, the installation of solar panels is a highly rewarding pastime, and one that can actively help to reduce carbon emissions and create a much healthier natural environment.
- #3. Enhance Your Professional Reputation: On a similar note, demonstrating a genuine interest in reducing your firm’s carbon footprint and emissions can actively engage customers and enhance your professional reputation in the process. Certainly, customers are more inclined to buy from brands that share their values and live up to these on a consistent basis, so investing in renewables could increase your consumer base and drive loyalty over time.
How to Finance the Switch
Funding this switch may be an issue for some firms, but it’s important to note that there are several options available to entrepreneurs in 2021,
From government incentives and schemes to alternative finance options, there are numerous ways in which you can subsidise your switch to solar power and realise your firm’s environmental ambitions.
Of course, the cost of solar panels will depend on numerous factors, from the total energy demands of your business to the quality of your solar panel system and the underlying energy costs.
Regardless, there are numerous options when funding your solar panels, despite the fact that the Feed-in Tariff (FiT) scheme closed for applications in March 2019.
One of the best remaining options is the Smart Export Guarantee (SEG), which creates a viable method of paying for energy that is exported to the National Grid through solar power.
This is arguably the most suitable option for small-scale solar generators such as homes or small businesses, so it’s worth checking out if you want to make a switch to solar power work for your venture!