At the end of last year, Spirit Energy decided to follow through on our commitment to cleaner energy by installing solar panels on the roof of our office in West Reading. Initially planning to use 157 panels, we encountered complications with the DNO. Seeing an opportunity with this setback, we decided to make a statement by writing our name on our roof in solar.
The array, commissioned at the start of January, is projected to have an annual output of over 48 MWh, and save over 11 tonnes of CO2 annually, despite coming down from the initial plan for 157 panels, to the final 127. We elected to use 430W panels by JA Solar for their reliability, coming with a 25 year warranty, and cost effectiveness - being low in price for a competitive output.
Financially, the system will save the company £6,500 in the first year alone, with 37% of solar generation being used on site. The system is projected to give a 24% Internal Rate of Return (IRR) and a 418% Return on Investment (ROI). A solar installation this size is normally priced at around £40,000, giving a 4-5 year payback period.
Ian Charles, Financial Director of Spirit Energy said:
"The commercial sense of installing solar on our roof was clear to see and when our design team came up with the idea of writing our name on the roof at the same time, I felt the expense was definitely worth it. The array is still expected to pay for itself within a few years, and the marketing benefits are just a bonus."
Vishal Giga, Operations Director said:
"We've been installing solar for 14 years, serving a wide array of commercial clients, so installing a solar array on our own offices was a natural step. The array is forecast to save thousands of pounds annually and pay for itself within just five years. With energy prices still at historic highs, now is the perfect time to join Spirit in investing in clean solar energy for your business."