With energy bills remaining stubbornly high, the business case for installing solar power and battery storage to supply your home or business continues to remain strong. As the NFU’s chief renewable energy and climate change advisor, Dr. Jonathan Scurlock, said in a recent Farmers Weekly article: “Given higher electricity costs, the business case for solar without support has greatly improved on many farms.”
While solar may not have the same subsidies as a few years ago, there are still many attractive options available to spread the upfront cost over a longer period. Whether you choose to fund your project yourself or consider financing, our consultants are ready to discuss these opportunities with you. Indeed, taking the finance route can be an effective way of freeing up cash for other uses in the business and, in many cases, finance costs will be outweighed by the annual savings made on grid-supplied energy right from the outset. The savings made fund the finance costs… and then some.
For a typical 250-cow dairy farm, our figures show that using finance to install a 50kW solar PV array of 122 panels will generate a net positive income of just over £1,100 in Year One. This is after finance payments (please see ‘Solar savings’ below). Once the typical seven-year finance term ends, the system continues to generate savings for many years to come and, in the case of our 50kW example, the project is likely to deliver net savings totaling almost £480,000 after 25 years.
Want to know more? Whether your project is self-funded or financed, our team of solar consultants can help plan the optimum system for your home or business and show the benefits technology can deliver both now and in the future. Contact us now to book our free viability service.
We work with finance providers who specialise in renewables and understand how to maximise your return on investment (ROI). To find out more, call our consultants today.
