Installing solar energy is a great way to reduce your energy bills and invest in long-term sustainability. Recently, one of our clients approached us with the goal of reducing their energy bill and asked for a comprehensive proposal outlining the return on investment. We put together a detailed plan that included an itemised equipment list, installation services, transparent cost, and returns, and expected yield based on shade analysis and array orientation. We are excited to share the results of this comprehensive project!
The Project Breakdown
For this project, we installed 14 solar modules along with a Solax inverter and battery storage. We also brought in a roofer to help with the mounting hooks as the tiles were slate. This not only helped our installers out, but it also ensured that the tiles were securely replaced after installation as slate is difficult to work being so brittle. Once all the components were properly installed and tested, we ran multiple simulations to make sure everything was functioning as intended. The simulation results gave us insight into what kind of return our client could expect from their new solar array system and confirmed the results contained in our proposal.
Return on Investment Analysis
After reviewing our proposal, our client decided to proceed with us for their solar array installation. When it comes to return on investment (ROI), there are many factors that need to be considered such as upfront costs, unlikely ongoing maintenance fees, rising energy cost and more. In this case, we calculated that our client would see a rate of return of 15.5% from the addition of their solar array system when factoring in all these costs over time. Our calculations also showed that they would save an average of £1,387 per year on their energy bills with no additional outlay necessary once the initial investment had been recouped after 9.4 years. By year 20 the saving surpassed £50,000! This of course continues to grow as energy cost continue rising, so it really does make a worthwhile guaranteed investment.
This solar installation project proves how investing in solar energy can be beneficial not just for the environment but also financially for those who install it in their homes or businesses. If you’re considering making an investment in renewable energy sources like solar arrays or battery storage systems, there are several key elements you should consider such as upfront costs and future maintenance fees before making your decision so you can get an accurate estimation of you expected return on investment. Our team at Contact Renewables is here to help you make an informed decision about your renewable energy investments!