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What are the Benefits of Solar for Business?
There’s a range of ways in which your business can benefit from installing solar panels.
You’ll benefit from lower energy bills at a time when prices remain extremely high, and while reducing your carbon footprint is worthwhile in its own right, your business reputation will also improve from being environmentally responsible.
What's the Difference Between Commercial and Residential Solar Panels?
Commercial solar panels are substantially bigger than residential panels, and this makes them both more efficient than residential panels and capable of generating more power.
Since the price of solar panels is calculated by the power they produce, a system for commercial premises could cost the same as that for a residential system which produces the same amount of power.
Does Solar Energy Offer Any Financial Benefits for Businesses?
Solar energy has become the fastest-growing energy source worldwide. Technology and finance have moved this technology into the mainstream; solar is now a mass-produced product, delivered at a cost-competitive price.
The price of energy generated by solar panels is estimated to cost less than a third of electricity bought from the grid.
A typical commercial solar panel system will provide free electricity for more than 25 years, achieve financial returns of up to 20% per annum and pay back installation costs within as little as five years.
What Are the Environmental Benefits of Commercial Solar Power?
The overwhelming majority of the scientific community is in agreement that we have to reduce our dependence on fossil fuels, and solar power offers you a cost-effective way to play a significant role in that by reducing your carbon footprint.
Solar energy is a renewable energy source, meaning that there is plenty of it to go around because it won’t run out.
They last a long time and require little to no maintenance, and their use doesn’t produce any emissions.
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Frequently Asked Questions
Do I need planning permission for solar on commercial buildings?
For commercial properties, solar panels do require planning permission. This involves applying your local planning authority, which will review your proposal and decide if you are eligible and compliant with local regulations.
Some of the factors that they will take into account may include the building size and structure, the impact on the surrounding environment, the reduction of carbon emissions and improved energy efficiency through solar panel installation, and safety.
If your premises are a listed building, there are further criteria that have to be met, but even this doesn't necessarily mean that an application will be refused.
Is it possible for my business to remain operational during the installation of solar panels?
The installation of solar panels takes longer for business premises than for a residential property, but under most circumstances, there is no reason why your business can't remain fully operational while they're being installed.
Can my business write off solar panels?
Providing the equipment you invest in is eligible, you can write off the cost against your taxable profit with a 100% first-year capital allowance.
How long do solar panels last and does efficiency drop over time?
The industry standard for solar panels is for them to have a lifespan of 25-30 years. High-quality solar panels degrade at an average rate of around 0.4-0.5% every year. This means even over long periods, the solar panels lose very little of their total capacity, only generating 12-15% less power at the end of their lifespan.
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