Reaching energy efficiency at your business is easier than ever before with solar energy. However, many people are put off by the potential cost of obtaining solar solutions, leaving them to not bother. Solar schemes can help to make the benefits of energy efficiency within reach of all businesses.
Sol PV Group, we have put together this helpful guide on some of the solar schemes that you can use, as well as the various options available through us.
What Is A Solar Scheme?
A solar scheme, or solar energy grant, is a method of getting discounted or even free solar panels installed. There are quite a few different options available in terms of this, each with its own caveats and unique benefits. Join us as we look at some of the biggest.
The ECO4 Scheme
The Energy Company Obligation scheme has gone through a few iterations over the years and is now known as the ECO4 scheme. This scheme aims to help tackle fuel poverty and reduce carbon emissions. It covers a vast range of household upgrades, including insulation, heat pump installation and boiler repairs.
But another key measure it can install is solar panels. These can be available for free or with a partial payment if you are eligible. The funding is dependent on your home’s needs, the types of measures needed and a number of other factors.
You might be eligible to get solar panels with the ECO4 scheme if your home has a low EPC rating (typically D or below), your home has an existing electric heating system and you are living at private domestic premises.
Another option is the ECO4 flex scheme, which is used if you don’t meet the criteria for the ECO3 scheme. Available through the Local Authority, this scheme is available for those living in fuel-poor households.
The Smart Export Guarantee (SEG)
The Smart Export Guarantee (SEG) is a scheme launched in 2024 backed by the Government that many companies now utilise. It enables those with solar panels to receive payments from energy suppliers for any unused solar electricity they export back to the grid.
Using this scheme can help you to break even and begin making a profit from your solar solutions a lot faster than normal, as you will be able to make back more money from your power, reducing bills whilst also increasing profit.
Different suppliers will offer you different rates when it comes to SEG, so it is important to consider your options to help you find the best solution for you. You must have an export meter installed, as this is capable of measuring your exported electricity.
Solar Schemes With Sol PV Group
Here at Sol PV Group, we are committed to transforming your business with award-winning solar solutions to improve energy efficiency, meet sustainability goals and take control of your energy supply. We have a comprehensive undtanding of the commercial solar sector and can help you to find your ideal solutions with our exclusive partnership process and various funding solutions.
We do this as we understand how budget constraints can limit your sustainable energy solutions, but you may be facing pressure to improve energy efficiency. By working with us we can help you find the best solution regardless of your budget with the following help.
100% Financed Option
Sol PV Group works alongside reliable finance partners, meaning we can offer you tailored solutions and contract terms to suit your business requirements. Our 100% financed option allows you to fund your solar upgrade with fixed monthly payments over an agreed period.
We offer a Smart Export Guarantee (SEG) Scheme, where you can sell back excess electricity, which may cover your monthly repayments, leaving you to enjoy energy efficiency without any trouble.
Outright Purchase
Many businesses opt for outright purchase of solar solutions, as this can offer you the highest returns and will reduce your payback period considerably. You should achieve ROI within around 3-5 years, and benefit from full ownership of the whole system, without having to make any repayments.
Many businesses will also be eligible to offset up to £100,00 of the investment in tax through your annual investment allowance. The downside to outright purchase is that you will need to have the money for the purchase and installation of the panels, which might be unaffordable for businesses or too much of an investment outright.
PPA Agreement
A Power Purchase Agreement (PPA) will allow your business to benefit from a fully funded solar system with no capital outlay. With this agreement, you will be able to purchase electricity from renewable source funders at a reduced rate compared to your current energy price.
With this, you’ll have a free solar PV system funded by a third-party asset investor and guaranteed savings on your energy bills. As part of the agreement, you’ll have an ongoing operation and maintenance contract at no extra cost, and the contract is fully transferable to new occupants if you need to move your business.
Asset Finance
With this option, you will have a set payment plan to install all of your energy efficiency equipment, including solar panels, batteries and EV chargers. You’ll have a choice of either a rental agreement or a hire purchase agreement, with no initial capital outlay.
The benefits of this type of option will be significantly lower energy bills, and the fixed payments you will make are typically lower than the savings made, meaning you will be making money from day one. This type of funding usually works better on systems up to 100kWp but we have experience offering these for systems up to 300kWp if needed.
The terms for this option are typically shorter than PPA agreements, usually up to ten years. At the end of the agreement, you then have the option to purchase the equipment.
Reach Energy Efficiency Today With Sol PV Group
Get started today on energy savings by getting in touch with the solar experts here at Sol PV Group. We can work to transform your business with a great selection of solar solutions. As well as installation, we are able to offer maintenance packages, battery storage and EV charging if needed.
We are able to offer expert and highly efficient solutions to your business needs. Contact us today to find out more about how we can help you.
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