Jun 21, 2021

E.ON Discusses Renewable Energy Costs and Business Benefits

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Energy Digital takes a look at the current figures for solar installation costs and how renewable energy has become more accessible for businesses

With the development of modular renewable energy technology, renewable energy systems are easily installed and components are cheaper. As a result, generating onsite energy has been accepted by many businesses as a feasible method of powering their day-to-day operations. 

Making Sustainable Technology Accessible

There is an abundance of possibilities with renewable energy. Clean power generation is more accessible through solar, wind, hydroelectric, and biomass. Many more organisations see clean energy as a feasible investment opportunity due to the lower cost of installation. However, John Martin, Product Manager at E.ON believes that renewable energy is not yet suitable for every business, but it can be very beneficial to those who are ready to make the change. "If you have spare roof space or land nearby, or even a car park with carports, they are easy to install," says Martin.

Martin also explains that organisations should carry out thorough research before they indulge in a renewable electricity system. "As well as your own energy profile, you need to understand the costs associated with network reinforcements on your local energy network, what permitting and planning will be necessary and the optimal technology options," says Martin. 

Affordable Renewable Energy

Looking into the past, it’s possible to see how methods of generating electricity have changed over time. Not only driven by environmental concerns, but also the cost of energy usage. According to research by the UK government, the average cost of solar energy in the year 2013 to 2014 - per kilowatt-hour (kWh) - was £1,910. In comparison, the average was significantly less in the year 2020 to 2021, reducing to £1,429 per kWh - more than a 25% reduction in cost over a seven-year period. 

The cost of solar PV is one of the driving factors for more widespread implementation. When the technology was first introduced for installation on homes and other buildings, the cost of installing solar panels was a barrier for many homeowners and businesses. However, many organisations have become more knowledgeable and willing to invest in renewable energy tech.

According to Martin, “clean energy options are getting closer to economic parity all the time, and clean energy can give you greater certainty over your costs, allowing you to reduce risk and cut your emissions at the same time. The pressure to go Net Zero is only going to increase.”

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