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There has been a surge in interest in solar installations from companies, as they look to protect themselves from rising energy bills. Image: Scott Webb (Unsplash).
Solar Energy UK has launched a new Corporate Buyers’ Guide, as interest in commercial solar continues to grow.
With the push to decarbonise accelerating in the UK, there has been an uptick in corporate interest in solar installations as companies look to green their operations. According to the Department for Business, Energy and Industrial Strategy (BEIS), a third of the UK’s FTSE100 companies have made a commitment to reduce their carbon emissions.
Additionally, high power prices over the last year have further increased corporate interest in solar installations as companies look to insulate themselves from volatile pricing.
Given the high power prices and the drop in the cost of solar, an installation can now pay back in less than five years. This has been bolstered by government support, with business rates for solar cut, a policy announced initially in 2021 and brought forwards in Chancellor Rishi Sunak’s recent Spring Statement.
Last year saw record deployment of commercial solar installations in the UK, making up a significant chunk of the total 730MW of solar PV installed in 2021. This trend is expected to continue throughout 2022, as companies hedge against rising gas prices which have been particularly volatile over the last month following the Russian invasion of Ukraine.
As such, Solar Energy UK along with Conrad Energy, Segen and SolarEdge have produced a guide that can provide companies considering solar with core information, such as how a solar system works and the key set up steps and commercial considerations as well as a directory of trade association members who design, install, finance and manage onsite solar projects.
"As corporate energy bills soar, more and more companies are looking to deploy solar on their buildings and car parks to secure cheap, clean power for the long term,” said Chris Hewett, chief executive of Solar Energy UK.
“In uncertain times, the potential for rolling out commercial rooftop solar is immense and can have a major impact on national energy security.”
According to the trade association, the UK could deploy around 7GW of commercial-scale solar power by 2030.
The release of the Corporate Buyers’ Guide follows Solar Energy UK publishing a PV procurement guide for local authorities in December, as it looks to further drive the adoption of the renewable technology.
Solar Energy UK’s Corporate Buyers’ Guide can be read here.