Half a dozen reasons why solar panels represent a good investment
Six reasons why Derbyshire, Leicestershire, and Nottinghamshire households and small businesses should have solar panels. Image by Faber14 (via Shutterstock).
1. You generate your own electricity on site
According to the Federation of Small Businesses’ sources, 1 in 10 small businesses generate their own electricity on site. This accounts for all other energy sources as well as solar power.
2. Rising in popularity
From the same source as the previous point, the use of solar installations are rising in popularity. 12% of Federation of Small Businesses members use solar panels.
3. Cheaper to install
Who can blame them? The price of solar panels have fallen dramatically with a 30% drop for a 50 kilowatt system.
4. Pegged prices
The price per unit of electricity is 5p. This is considerably cheaper than the 11p to 15p per unit quoted by electrical suppliers. With the prices pegged at 5p per unit for at least 25 years, a very sound investment on the grounds of cost as well as environmental value.
5. Excellent return on investment rates
A solar photovoltaic (PV) system offers a 12% to 16% return on investment. With interest rates at low levels, this represents a better ROI rate on UK bank and building society interest rates.
6. Long life
Once you have had your solar panels installed, you will be surprised by their longevity. At the very least, you can get 25 years out of a set of solar panels. Some have a design life of 40 years. Whether for 25 or 40 years, they will outlast a fleet of vans, lorries or buses.
A number of businesses, great and small, and households have chosen solar panels on economical and environmental grounds. In Derbyshire, the Toyota plant at Burnaston is a major user of solar power, as is the Derby Innovation Centre and several buildings on Infinity Park. Last year, Nottingham City Council smashed its energy efficiency targets with solar panels on its public buildings.
Whether you have an industrial estate in Leicestershire, a rural bolthole in Derbyshire or a chemist in Nottinghamshire, let LJ Electrical take charge of your solar power needs.