Energy Bill Form

November 29, 2023

The Rise of Solar Power in Business and Home Energy Solutions

Solar power is officially the fastest-growing and largest contributor to new generating capacity in the United States, according to a new report.

Solar power is officially the fastest-growing and largest contributor to new generating capacity in the United States, according to a new report. The report shows that solar accounts for 42.4% of new domestic generating capacity, outperforming natural gas and nuclear power.

Although we do not have the same level of growth in the UK, solar power is becoming increasingly popular and becoming a staple within the energy mix.

Why is solar power becoming so popular?

For Businesses

Solar power is a great source of energy for businesses, not only when the business is generating their own solar power, but for businesses which use suppliers who generate solar power.

One of the reasons why solar is becoming an increasingly popular source of energy is the ease of access for any type of business, for example, a small business that does not have any surrounding land or space for physical solar panels, can sign a contract with an energy supplier who explicitly generates energy using solar panels. Another business could have a large field on their property, or space on the roof of their offices, factories, or other sites, therefore, they are able to install solar panels and start generating their own power.

With the recent energy crisis harming and even closing many businesses all over the country, many of them are looking for ways to gain ‘energy independence’ which allows businesses to dodge huge price spikes when they come and go without warning. As they would be generating their own energy, they only have to pay for the small amounts of energy they take from suppliers, which is more common throughout the winter months.

Sustainability and the switch to renewable sources of energy are becoming much more popular and necessary for businesses. As there are plans to make 100% carbon-neutral businesses a law by 2050 (Net-Zero), businesses are much more likely to switch to a reliable and cheaper source of energy, as well as be more conscious of their carbon footprint. This brings many businesses to Solar Power, as it fits with many businesses’ sustainability goals.

For Households

Households have also been massively affected by the energy crisis. Energy prices spiked to record highs, and many households were, and still are in energy poverty. This has influenced some households to choose the renewable route and install solar panels on their roofs. Although solar panels are a great choice for households, many of the people who are majorly affected by the energy crisis cannot afford to install solar panels.

This also affects people who live in rented property, as they have no control over whether they have solar panels or not, they can usually choose their energy supplier, but this is not always the case, limiting them to just a couple of options when prices do rise.

How much do Solar Panels cost?

The prices of solar panels have and will change, however here is a quick guideline to the costs of solar panels.

Solar Panel prices can go anywhere from £9,500 to £51,000 for a small to medium-sized business.

Excluding VAT, and the type of system, which is required, here are the system sizes and prices that go with them that you could expect.

(Figures correct as of February 2023.)

How have solar panels grown in the past 10 years?

Solar Power in the energy mix

Renewable energy had a 13.25% share in the energy mix in 2012 compared to 25.21% in 2022.

The growth of Solar Power

58kWh in 2012 compared to 538kWh in 2022.  5.47% in 2012 compared to 19.34% in 2022 for renewables within the UK’s energy mix.

What are the benefits of solar panels?

  1. Income from Solar Energy: You can use the solar power generated on-site, with any excess sold back to the grid.
  2. Cost Savings: Generating free and green electricity during the day reduces reliance on grid energy, potentially saving thousands of pounds on energy bills over time.
  3. Improved Energy Security: Less dependence on the National Grid means reduced vulnerability to power cuts and outages, with stored electricity providing a backup supply for your business.
  4. Reduced Carbon Footprint: Your own solar energy generation significantly lessens your company's carbon footprint.

In conclusion, the ascendancy of solar power in the energy landscape, both in the United States and the UK, marks a transformative era in how businesses and households approach energy consumption. Businesses are adopting solar power not only for its economic benefits, such as cost savings and potential income generation but also to achieve sustainability goals and energy independence amidst volatile energy markets. For households, solar panels offer a pathway to mitigate the impacts of the energy crisis, although affordability and property constraints remain challenges.

Overall, the significant growth of solar energy over the past decade and its role in reducing carbon footprints underscore its vital contribution to a more sustainable and resilient energy future.

Back to the blog
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.