More business owners are jumping on the bandwagon these days and opting for solar energy. It is undoubtedly one of the fastest-growing trends in the market today. Experts predict that solar energy will continue to grow among many businesses, commercial entities, and establishments. The benefits of a solar panel installation for your business are obvious. It will not only give you significant savings on your electricity bill but also lower your business’s environmental footprint and give everyone a better impression of your business for being socially responsible. Through its lifetime – which can extend to 25 years – all your savings will add up, and it can save you thousands. And if you opt for an industrial solar installation, you can even sell the surplus energy you produce back to the grid for additional profit.
But of course, all these benefits come with a cost. So what is the breakdown of the real costs of a commercial solar panel installation? Here’s what you need to know.
- The initial costs
The initial costs of installing commercial solar panels will vary depending on the size of the installation and its output, but on average, you’re looking at £16,000 to £70,000 for a small enterprise to a large corporation. Of course, different factors may change the cost of your installation, such as the energy you generate, the number of panels, and the size of your roof.
You have to look at and assess your average monthly usage of energy to determine if a solar panel installation is a viable option for your business. You can look at your company’s utility bill for a start – assess how much energy you use each month and check how much is being charged to you by the utility provider. It’s important to remember that you may be able to get tax relief from installing commercial solar panels, so check this as well.
In general, however, you can spend upwards of £9500 (plus VAT) for a 10 kW system, and if you opt for a 20 kW system, you can spend about £18200 plus VAT. If you decide to get a system with a size of 40 kW, expect to spend £35K plus VAT. For a 50 kW system, you can spend about £44K plus VAT; for the largest, which is a 60 kW system, you can spend approximately £51K plus VAT.
- The installation
When you have decided to install a commercial solar system, know that the most important things you are paying for would be the inverter and the solar panels themselves. The expenses would be even greater if you are installing a large system because it will be more challenging to install and would take a longer time.
To give you an estimate, let’s say it costs £0.2 for every watt – this means it would cost about £2k to install a 10 kW system. A bigger installation would often require more workers, which means a higher cost. But the good news is that once you have covered the initial expenses, there is hardly any additional expense.
Bear in mind that your solar panel installation may require planning permission in some cases, but your solar installer could ensure this for you – and this is why it’s important to choose a good solar manufacturer and installer.
