Return on investment for solar PV at all time high
Published: 30 July 2012 - Joe Bush
As the changes to the Feed-in-Tariff (FiT) take effect on 1st August, there has never been a better time for businesses to install a solar PV system and ‘go green’, according to Andy Pyke, director of commercial sales, The Green Home Company Commercial Division, part of the GML Group.
The Green Home Company Commercial Division claim that due to the reduced cost of the solar panels themselves and despite the lower FiT, the return on investment is at an all time high. Based on a typical 50kWp installation, businesses can expect to achieve a combined income and saving of over £9,000 a year meaning it will pay for itself outright in less than seven years.
Pyke commented, “Although the economic market is generally still quite tough for businesses, there is a real business case for installing a solar PV system. Whilst the FiT has just been lowered, at the same time, the export rate has increased and the panels themselves are cheaper to install. The average system will pay for itself in just seven years allowing businesses to not only receive an excellent return on investment, but also protect themselves from rising energy prices.
“In today’s market, it is vital for businesses to demonstrate their commitment to reducing their carbon footprint. We need to ensure that businesses have the correct information available to them so they are able to identify how they can use renewable energy techniques to help them achieve this goal.”