With the climate crisis worsening and energy prices soaring, many businesses and homeowners are looking to invest in solar panels. Photovoltaic technology has advanced rapidly in recent years, with solar panels now far more efficient than ever before.
On 1 April this year, the government reduced VAT on the installation of energy-efficient systems from five per cent to zero, which has only made solar power a more popular investment.
Here, we explore some of the benefits of solar panel installation – and why now is the time to invest.
Renewable energy source
For businesses and homeowners looking to reduce their carbon footprint, solar power is a source of renewable energy. Using clean energy to power your home or business premises not only helps the planet, but it helps reduce your carbon footprint.
Many businesses now have sustainability on the agenda, and reducing emissions by generating your own power is a great way to meet sustainability targets. Solar panels also showcase your environmental commitment to others, making your business a more appealing choice for eco-minded customers.
Reduce energy bills
Solar panels can benefit your wallet as well as the environment. With energy prices at an all-time high, many are looking to cut down on their bills. By generating solar energy, you’ll only need to pay for any extra power you need to fulfil your usage demands.
How much you’ll save depends on the size of your system and your energy usage.
Shorter time to recoup costs
The inflated cost of energy also means that the time to recoup installation costs is shorter than ever. Previously, the time taken to regain the initial installation cost in savings was often 10 years or more, but this timeframe is now much shorter for many.
Solar panels have excellent warranties – typically 25 years – and they can last for up to 40 years. If you’re thinking of investing, you’ll now start making savings sooner and for longer.
Versatile power generation
Another benefit of solar panels is the versatility of power generated. You can generate electricity (photovoltaics) or heat (solar thermal), depending on the type of panels installed, so you can use green energy to power and heat your home.
Solar power infrastructure can also be integrated into the building materials of your home or premises, known as building-integrated photovoltaics (BIPV). Photovoltaic materials are used in place of traditional building materials – often in the roof, skylights or building facades. It is also possible to retrofit existing buildings with these materials.
If you’re thinking of installing solar panels for your home or business, the expert team of engineers at Clegg Associates can help. Contact us today to book an initial site survey.