Business News6

Solar Panels Saves Company £355,000

Forward thinking food firm Linwoods in County Armagh, Northern Ireland, has invested in 200 rooftop panels after working out the massive savings they will represent over the next 25 years.

The solar panels are part of a £2 million redevelopment for the company that focuses on superfoods such as chia seeds and goji berries. Like many other companies in the UK, it has unused roof space that the directors realised could be turned over to harvesting solar energy. Having crunched the numbers, the company gave the go-ahead and is confident that the long-term savings on energy bills will be immense. 

The company accountants believe that the solar panels will save the company more than £355,000 by 2040, which is the kind of number that should make big UK businesses sit up and take notice. Solar power is not just an ethical choice that helps to reduce your company’s carbon footprint, it is a real money saver too. 

"The solar PV installation not only generates a financial return in reducing our energy costs but is an excellent way of reducing carbon dioxide emissions,” said Linwoods managing director John Woods.

Almost every factory, warehouse or office block in the UK has substantial outside surface area that could potentially be covered in the latest generation of solar panels. As well as substantial government grants for adopting the green power source, the companies will inevitably benefit from lower energy bills. 

With electricity and gas prices soaring in recent years, any company that has not considered the potential savings of solar PV would do well to revisit the figures and look again. 

Traditionally, the downcast British weather was seen as an obstacle to the widespread adoption of solar panels. A series of breakthroughs mean the panels are now far more efficient, however, and the latest generation of solar panels can harvest a significant amount of energy, even during the dark British winters. 

So any forward thinking company, especially one that owns their own building and is looking for long-term savings, should look to the potential of solar panels and reduced energy costs for decades to come.