By: Haem Roy
We begin with answering the one big question that every company thinking of installing solar is first posed with: ‘How much would it cost?’
The cost of installing a solar project in different countries can vary based on many factors such as local manufacturing and import duties. In addition to that, the cost of solar can also differ significantly based on the quality of solar panels and installation quality. As a result, the customer must always be careful in selecting their supplier/EPC - a good way to do that is by asking for product warranties. An easy way to find out the cost and identify pre-rated, high quality suppliers/EPCs is by signing-up on PowerMarket where we verify and do a thorough background check on everyone listed.
However, the cost of the solar is not the only critical factor. One of the best solutions is to install solar for captive use or self-consumption. By doing so, companies can reduce their dependence on utility electricity by 30%-50%. Companies that are looking for ways to improve their environmental impact and reduce operational cost also look for assets that have competitive return on investment (RoI), and solar is such an asset. But in order to assess that, one must take several factors such as solar irradiation, cost of electricity, location, site conditions etc into account.
For example, below are some of the states ideal for solar installation:
Figure 1: States ideal for captive commercial Solar, studied by PowerMarket, image source: Google Maps
The above shown states, although not an exhaustive list, have two key factors in common –
- High solar irradiation
- High commercial electricity price
These two key factors make them ideal for a solar installation. As a result, the RoI of solar in these states could be as early as 4-5 years. Solar panels on the other hand could be installed pretty much anywhere – rooftop, carpark, open field etc.
Nevertheless, instead of trying to work all of these out by yourself, you can assess the Cost, Environmental Impact and RoI of solar on your company for FREE by using PowerMarket’s solar assessment tool and sign-up to buy your customised solar solution.
PowerMarket is a product of SunReign Ltd, a UK registered company founded with a mission: sustainable energy for all. PowerMarket, an Oxford University Innovation and European Space Agency supported venture, provides companies end-to-end solar solutions – helping you assess, procure, finance, install and maintain solar energy projects.
If you have a rooftop, carpark or an open field within your business premises, you can evaluate its solar potential for free at https://www.powermarket.net and sign-up for your bespoke solar solution. Or, write to us at firstname.lastname@example.org.