As energy prices rise and environmental concerns take centre stage, installing solar photovoltaics (PV) makes ever-more financial sense. For those who have already invested in solar photovoltaics, the next logical question is: Should you expand an existing array? And, the answer is a clear yes. Increasing the size of your solar PV installation offers greater financial savings, environmental and business benefits.
Long-Term Cost Savings
The most significant advantage of expanding your solar PV system is the long-term cost savings. By increasing your solar capacity, you further reduce your reliance on the grid, leading to a greater reduction in your electricity bills. Energy costs are notoriously unpredictable, but with a larger solar installation, your business can stabilise its energy expenses and avoid the volatility of traditional electricity prices.
A typical commercial solar system can pay for itself within four years via energy bill reductions with minimal maintenance costs. Once this payback period is complete, the energy your expanded system generates becomes a profit-driving asset for your business. Since solar panels typically last over 25 years, this means decades of energy and cost savings.
As your company grows and its energy demands increase, a larger solar PV system ensures you have enough renewable energy to meet those needs without relying on costly grid electricity. Scaling up is essentially future-proofing your energy strategy, allowing you to expand operations or adopt new technologies like electric vehicle charging stations without worrying about rising electricity costs.
Increase the value of your assets
Businesses that have solar PV installed can significantly increase the value of their assets by reducing long-term operational costs and enhancing the property’s appeal. Properties with renewable energy systems are more attractive to potential buyers or tenants, as they provide the opportunity for lower energy bills and a reduced carbon footprint. High quality solar PV installations from a qualified installer make properties more marketable and valuable, especially as energy efficiency becomes a key factor in real estate investment decisions.
Faster Payback Period
Although current export rates are not huge, scaling up your solar PV system can also result in a shorter payback period from the added revenue from exporting excess power. Newer, more efficient panels can increase the overall output of your system without dramatically increasing operational or maintenance costs. The more energy your system produces, the quicker you’ll recoup your investment, leading to faster financial returns.
We have been calling on the UK Government to introduce a preferential feed-in tariff for solar energy generated from on-roof and car park installations. However, even with the existing export rates, expanding your existing solar installation now still makes sense by locking in a reduced price electricity supply for your business to maximise long-term savings.
Cut Your Carbon Footprint Further
Expanding your solar system also has significant environmental benefits. Every additional solar panel helps reduce your business’s reliance on carbon-intensive grid electricity, directly contributing to lower carbon emissions. As governments and consumers demand more sustainable practices, businesses that actively reduce their carbon footprints are better positioned to meet evolving regulatory and supply chain requirements.
Adding battery storage to your system can enhance these benefits even further. With battery storage, you can save excess energy produced during peak sunlight hours and use it later when energy demand is higher or the sun isn’t shining. This not only maximises your energy independence but also cuts your carbon emissions by allowing you to rely on stored solar power instead of grid electricity during these times.
Align with Sustainability Goals and Boost Brand Value
Sustainability is becoming a central concern for businesses across all sectors. As public and regulatory pressures grow, companies that demonstrate a genuine commitment to reducing their environmental impact gain a competitive edge. By expanding your solar PV installation, you signal to your customers, investors, and employees that your business takes sustainability seriously.
A larger solar system showcases your company’s leadership in environmental responsibility, enhancing your brand image and potentially attracting new customers who value green practices. Furthermore, many supply chain partners and investors now prioritise businesses with strong environmental, social, and governance (ESG) credentials. An expanded solar PV system can help improve your ESG scores, making your business more attractive.
Conclusion: Scaling up a PV system is a strategic investment
Scaling up your existing solar PV system isn’t just a smart financial decision—it’s a strategic investment in your business’s future and its sustainability goals. From long-term cost savings and faster payback periods to the ability to generate export revenue and reduce your carbon footprint, expanding your solar installation brings numerous benefits.
If you’re ready to explore how increasing the size of your solar PV system can benefit your business, contact us today to learn more.