What Commercial Solar Power Funding is Available in the UK
Funding for Commercial Solar Power
As more people discover the benefits of solar power the demand for solar panels and solar heating systems increases. There are various funding options available for businesses that want to install solar power systems but do not have all the money required to meet the costs. There are loans are available for businesses that intend to switch their energy source to solar power and some of the loans available are interest-free loans of up to 100% value. Businesses that are interested in the unsecured interest-free, Energy-Efficiency loans could borrow up to £100,000 from awarding bodies. It is advisable for an organisation to check their local council for grant or loans that are offered.
Examples of Commercial Solar Power Funding in the UK
For businesses that are able to come up with a convincing plan of a product or service that could help fight climate change, Shell Springboard will award that business a grant of up to £40,000 and will help finance the installation of commercial solar power in their premises. The industrial use of solar water heating systems is becoming more common, thus through the Renewable Heat Incentive the government pays companies up to 8.5p p/kWh of all heat generated through solar heating systems. This incentive is a way of enticing companies to invest in solar power, and it is used as a way supporting small scale businesses. Feed-in tariffs are available to businesses that produce solar electricity and they are a great way to make a return on the investment as Feed-in-Tariffs will pay up to 43.3p p/kWh for all electricity generated with solar panels.
Commercial Benefits of Solar Power
Companies that use solar energy save thousands on their energy bills each year. The rising cost of fossil fuels such as petroleum can lead to the increase in the operating costs of a business. In addition, the dependence of industries on fossil fuels can greatly harm the environment in terms of resource depletion and the switch to solar power will help reduce harmful emissions or green-house gases. Photovoltaic solar panels utilize sunlight to conduct electricity, while solar heating systems use the suns energy to heat water and since solar energy is free and always available, it does not present the same risk of price hikes, shortages or black outs.
Uses of Commercial Solar Power
Solar power could be used in various industries. Businesses could use solar lighting systems in office buildings, and parking lots. Factories could also use solar lighting systems, or PV solar panels to power their machinery. Solar heating systems could also be installed to provide hot water in businesses such as Laundromats, breweries, hotels or apartment buildings. Solar power can be a great source of energy for any commercial area, it is renewable and reliable energy and there is funding available for it therefore all businesses have the opportunity of investing in solar energy.