By opting to finance solar projects, businesses can preserve their capital for essential operations and strategic investments, allowing them to maintain financial flexibility and agility.
Financing solar panels can enable businesses to distribute the cost of the project over time, mitigating the financial burden associated with large upfront expenditures whilst simultaneously reduce exposure to potential risk.
Embracing finance for solar projects can lead to significant tax advantages, as many areas offer tax incentives and credits for businesses adopting environmentally friendly initiatives, contributing not only to sustainable practices but also to bottom-line savings.
At the end of 2022 Beamish Park’s fixed electricity tariff with their provider came to an end – they were facing an increase of 14p to 70p per unit. Annually this would have meant their energy bills would have increased from £12,000 to £70,000. The club investigated financing solar panels to reduce their energy costs.
“In January, February and March of 2023 the club’s monthly electricity bills were approximately £5,500 per month. After negotiating a better tariff with our provider and installing solar panels, our monthly electricity bills, and the finance repayment combined cost us just £2,000 per month.” Phillip Dobson, Treasurer of Beamish Golf Club
Watch our video case study about Beamish Park Golf Club's Solar Panel project here.
Cash Cost: £59,600 + VAT
Quarterly Lease Cost: £2,745 (7yr term)
Average Quarterly Saving: £3,008 (versus current electricity bill)
Cost Positive: Yes - £263 per month
Our team of finance experts has over 27 years of experience helping organisations secure the finance they need to support their organisation. We’ll work closely and collaborate with you to understand your specific financing requirements and provide you with a range of bespoke finance solutions that are tailored to your unique needs. With Bluestone as your finance partner, you can trust that we’ll support you throughout the entire process, from application to approval and beyond.
Last Updated: March 2024. Version: BS2024.01.01FSSP
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