Commercial Solar Power
Commercial solar power can refer to commercial solar panel systems used to provide electricity to office or residential blocks or the solar hot water panel systems that can be used to supply offices, factories and car washes with their heated water requirements. Solar energy has not only created an affordable way for companies to reduce their energy costs but also a viable way to use the same solar power systems to earn cash profits from government rebates such as Feed in Tariffs (FITs) and the Renewable Heat Incentive (RHI).
UK Government Solar Rebates
The UK government, in trying to encourage more commercial ventures into switching to solar power, introduced FITs which can pay businesses up to 43.3p per kWh of electricity produced by solar panels.The sheer profit aspect of FITs is that any electricity not used is sold back to the national grid at an extra 3p per kWh making excess electricity generated worth 46.4p per kWh to commercial solar panel owners. Solar water heating systems are incentivized by the RHI scheme which will pay 8.5p per kWh for solar thermal systems of up to 100kW. Those individuals who want a commercial approach to their domestic solar power systems by earning profits will be glad to know that these government incentives are tax free.
Commercial Tax Incentives
It has been reported that solar power and new energy Venture Capital Trusts or VCTs have allowed private investors to enjoy 30% tax relief for all investments in VCTs of up to £200,000 which can encourage venture capitalists to invest more in commercial solar farms. Commercial solar farms can generate up to 5MW and still earn money from Feed-in Tariffs for renewable energy.
How do know if I am Eligible?
Any person wanting to install a commercial solar power system for profit will only need to consult a solar power specialist who can advise them on the solar technology right for their own personal or business use and for the generation of excess power. Tax incentives and rebates can be properly explained in a way that makes sense to the commercial minded as well as the layman. Finding an appropriately experienced solar solutions provider, who is able to efficiently design, supply and install commercial solar power solutions as well as giving advice on rebates and tax incentives, can be done on this website. As a well established solar products and incentive information site, there are a number of free resources that you can use to compare rebates and tax incentives as well as the best commercial solar power providers in the UK.
