How much do commercial solar panels cost?
Managing energy costs is a significant challenge for businesses. Commercial solar panel installations offer a sustainable solution, reducing carbon footprints and addressing rising electricity bills.
With the initial cost of installation often seen as a barrier by many business owners, exploring grants, schemes, and efficient financing options becomes necessary.
This blog post looks into the costs, funding opportunities, and financial benefits of adopting commercial solar panels.
- How much do commercial solar panels cost?
- Additional solar costs to consider
- Can grants help me buy commercial solar panels?
- How best to finance commercial solar?
- Benefits of commercial solar energy
- Get affordable commercial solar panels with Path Energy
How much do commercial solar panels cost?
The cost of commercial solar panels is influenced by several key components, each varying based on your commercial property’s specific needs and characteristics.
These include the type of solar panel you choose, the inverter (which converts the solar energy into usable electricity), the mounting system that secures the panels to the roof, and the labour involved in the installation process.
The size of the commercial property’s roof and the business’s energy demands are also important. Larger roofs and higher energy demands need more solar panels, which can increase the initial investment.
The upfront costs for a standard solar panel system can run into thousands of pounds, based on the components’ quality and installation time.
The cost of the inverter also varies based on its technology and capacity. More advanced inverters that offer greater efficiency and longer lifespans may have a higher initial cost but can result in greater savings over time due to their ability to convert more solar energy into usable electricity.
Additional Solar Costs
- Solar PV Battery—A major addition to energy storage, solar batteries often cost extra but enable the storage of excess electricity for future use.
- Monitoring Systems—These often require a relatively small additional cost for real-time insight into your solar power generation, improving efficiency.
- Extra Components – Includes costs for additional wiring or structural roof adjustments, varying per installation.
- Maintenance and repairs – Commercial solar setups are tough, but regular check-ups help them work their best.
Can grants help me buy commercial solar panels?
Several grants and incentives aim to reduce the capital cost for businesses transitioning to solar energy.
Government schemes, local initiatives, and solar incentives can significantly offset the initial investment. Researching available funding options tailored to commercial applications of solar technology is key.
Additionally, some tax rebates and credits reduce installation costs, encouraging further adoption of green energy.
How best to finance commercial solar panels?
Getting solar panels for businesses is easier than ever, with plenty of payment plans to fit all budgets and tastes. These options ensure that the transition to solar electricity is achievable without businesses needing to cover the entire upfront cost immediately.
Leasing
Under a solar lease, a business agrees to pay a fixed monthly fee for using a solar energy system. This arrangement allows businesses to enjoy the benefits of solar energy, such as lower energy bills and reduced carbon emissions, without the high initial investment.
Power Purchase Agreements (PPAs)
A business does not pay for the solar panel system in a PPA. Instead, it agrees to purchase the electricity the system generates at a predetermined rate over a set period. This rate is often lower than the current market rate offered by traditional electricity suppliers, providing savings on energy costs.
Loans
Loans provide a straightforward financing option for businesses ready to invest in solar energy. Financial institutions and some government programs offer loans specifically for solar installations, allowing businesses to finance the purchase and installation of solar panel systems.
By repaying the loan over time, businesses can eventually own the system outright, leading to even greater savings on energy bills.
Benefits of Commercial Solar Energy
Solar energy can lead to significantly lower monthly electricity bills. Over time, the system pays for itself, leading to a positive cash flow and boosting your business’s financial health.
Utility Savings
By generating solar electricity, businesses can reduce their dependency on the grid, leading to lower electricity bills. The savings can be substantial, depending on the system’s size and the property’s energy usage.
Return on Investment
The return on investment for solar panel installations can be rapid, often within a few years. Factors like reduced energy costs, available incentives, and increased property value lead to a favourable payback period.
Additional Revenue Streams
Businesses can also earn from their solar installations by selling excess energy to the grid, creating an additional income stream.
Get affordable commercial solar today with Path Energy
When it comes to commercial solar energy for your business, think Path Energy. Our commercial solar solutions, including solar panels, battery storage, and optimisation technology, are designed to maximise your business’s potential for decades.
Our premium solar panels provide years of clean, cheap energy, and our battery storage service ensures continued power during outages while optimisation tech boosts efficiency.
Experience the full spectrum of solar benefits and pave the way for a brighter, greener business journey with Path Energy!