Industrial Solar PV Panels rethinking energy
Why use Solar Panels for Businesses?
Did you know that solar panels can reduce your business’s environmental footprint and save you money every year? Commercial solar panels can be beneficial regardless of whether your company is large or small.
Most businesses are active in the daytime, which means they are the perfect candidates for utilising solar panels. The energy produced by solar panels immediately flows back to the grid unless you pair your solar array with a solar battery storage system.
One of the key benefits is the substantial cost savings — even small businesses can save hundreds of Euros each year.
Over the 25-year lifetime of solar panels, this equates to thousands of Euros. If you operate industrial solar panels, you can sell excess energy to utility companies for a profit.
Factors that will impact how much energy a Solar PV system will generate are:
Big Reductions in Electricity Overheads
Ireland has some of the highest electricity prices in Europe. This is a major reason why solar energy is financially attractive here. Solar energy is a great match for businesses in particular. Specifically, most businesses use a lot of power in the middle of the day, right when solar panels perform best.
This helps you maximise solar energy utilisation. Additionally, solar helps you avoid peak daytime electricity tariffs. Overall, savings and returns on investment can be very attractive.
More specifically, Irish businesses can get around 30% of their electricity needs from solar panels. With day/night metering, that can mean savings as high as 35-40% on bills. Solar also protects you from rising electricity prices. This is especially important as carbon taxes increase.
These savings typically translate into a return on investment of 10-15% per year. However, returns can be as high 25% if you qualify for a grant.
The benefits of solar panels for business go beyond practicality and saving money. By switching to commercial solar panels, you are also lowering your business’ carbon footprint.
This is based on the amount of greenhouse gases produced by your actions. Solar energy is renewable and carbon neutral. Switching would indicate your business’s commitment to green and sustainable practices.
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The Case for Solar PV
Contrary to popular belief, a Photovoltaic system does not necessarily need bright sunlight to operate successfully. A correctly engineered system will continue to generate electricity even on cloudy days.
The first practical application of solar photovoltaic’s was to power orbiting satellites and other spacecraft, but today solar photovoltaic systems are becoming far more main-stream and can be used for any number of exciting applications. While traditionally most systems were grid-connected whereby excess electricity was fed onto the national grid, off-grid or hybrid systems are becoming more popular.
There are many reasons for this on the most basic level off-grid battery storage systems allow communities where there is no grid to have access to electricity. There has also been a trend in the developed world towards on-site storage. Electricity prices are increasing to such an extent that in many cases electricity generated by PV panels and stored on site is cheaper than the electricity that you can buy from the grid.
Many of the grids are in need of upgrading and therefore unable to deal with demand, as a result, we are facing the real threat of grid black-outs in the not too distant future.
Commercial Solar Panel Grants
The Sustainable Energy Authority of Ireland provide several grants that cover solar panels for businesses. The most popular one is the Better Energy Communities (BEC) scheme. With the BEC, you partner with other organisations in your local area to receive a grant of 30%.
For large companies, the EXCEED grant is also an option. EXCEED also provides a grant rate of 30%. Unfortunately though, EXCEED is not suitable for small businesses due to the arduous application process. You can receive either the BEC or the EXCEED grant but not both.
You can also claim the Accelerated Capital Allowance (ACA) on solar panel investments. This gives you 12.5% of your investment back as corporation tax savings. The key to the ACA is that you get all the tax benefits up front. Alternatively, the Wear and Tear Allowance provides the same saving, but spread out over 8 years. With the ACA and a grant, your total financial incentive can be as high as 42.5%.
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