PV Solar installation completed at Victoria Farm in Kent
The Good News -
For over 30 years, Victoria Farm has been producing apples in Kent, supplying supermarkets like Sainsbury's, Morrisons, and Lidl GB through partners ABB Marketing Ltd. Working in cold and frosty temperatures earlier this year, Glow Green Ltd installed PV solar panels onto Victoria Farm’s packhouse and cold stores based at Boormans.
So what was chosen as the best tech for the farm?
150 Perlight Delta 415W Total Black Commercial Solar Panels were installed, paired with a powerful Solis 50kW - 3 phase inverter.
Key Facts:
- Expected annual electricity generation: 57,934 kWh
- Payback period: 3 years
- Return on investment: 29.1%
Due to the high volume of electricity farming consumes, this installation will enable Victoria Farm to operate efficiently, continuing its apple growing tradition with a renewed focus on sustainability.
Quotes Relating to the Project -
"The initial system cost of £63,600.00 is expected to be recouped after 3 years.” - Glow Green Ltd.
Generation
The system is expected to generate 57934 kWh per year initially, decreasing gradually as the solar cells degrade. Over the 25 year term of this financial projection, the total generation is expected to be 1352940 kwh, of which 1104610 kWh will be consumed on site and 248329 kWh exported.
Payback
After adjusting projected costs and benefits for inflation, and applying a discount rate of 3.5%, the initial system cost of £63,600.00 is expected to be recouped after 3 years.
Net Present Value
The total present value of future benefits and costs, using a discount rate of 3.5% per year, is £527,107.83. The cost of the PV system is £63,600.00. The net present value of the project is therefore £474,107.83. A positive net present value is a good indication that the project is financially worthwhile.
IRR
The Internal Rate of Return is a useful measure for comparing the relative profitability of investments - 29.1% ROI.
Benefits of Commercial Solar
- Energy Independence: Reduces dependence on the National Grid, ensuring continued operations during power outages and protection from rising energy prices.
- Financial Investment: Achieves an ROI of up to 20%, meaning a fast payback and lower energy costs for decades to come.
- Tax Benefits: HMRC's Annual Investment Allowance allows businesses to deduct the entire capital cost of the PV system from taxable profits, reducing the overall cost and accelerating payback.
- Profit Generation: Surplus energy can be sold back to energy suppliers under the Smart Export Guarantee (SEG) or stored for future use with Tesla Powerwall Batteries.
- Environmental Impact: Reduces utility bills, and carbon footprint, improving ESG (Environmental, Social, and Governance) scores.
- Property Value: Potentially boosts commercial property's value, making it a valuable business asset.
For further information on this article, please visit: https://www.glowgreenltd.com/solar-advice/commercial-solar-panels
Partner links:
https://www.victoriafarmltd.com/
