Business Loans for Solar Panels

Managing your business’s finances has its challenges even at the best of times. But when you throw a cost of living crisis and soaring energy prices into the mix, things can get even trickier. It’s therefore hardly surprising to learn that many business owners are looking to the sky for ways to reduce their costs and ease pressure on budgets.

We are committed to finding innovative financial solutions to ensure the smooth running of your business. At a time when energy prices are at an all-time high, funding a solar panel purchase through Union Business Finance could have a substantial impact on your return on investment, reduce your bills and make a positive contribution to the environment.

Benefits of installing solar panels

There are many advantages of installing solar panels for your business that are both financially and environmentally beneficial.

• Lower energy costs: Installing solar panels will dramatically reduce your business’s energy bills almost instantly. Currently, the average cost of producing solar PV energy is 5p per kWh. Businesses pay 11p-15p for the same amount of energy from a supplier. When you also consider that energy bills are predicted to double in the next ten years, it’s clear to see how solar panels could save you money and protect your business from future price increases in energy.
• Reduce your carbon footprint: We are all becoming more environmentally conscious and installing solar panels for your business could make a hugely positive contribution towards the greener world we are all working towards, ensuring growth and economic wellbeing.
• Greater ROI: Install solar panels this year and watch your bills decrease and your return on investment grow.
• Sell on excess energy: If you operate industrial solar panels, you may be able to sell any excess energy to utility companies and make a profit.
• Improve your public brand image: By installing solar panels, not only will you be benefiting your business financially and improving your return on investment, but it will also change how you are viewed by potential customers. By making a positive contribution to the environment, you are showing the public that you not only care about the world we live in but that your priorities extend further than just those of the business. You could also very well attract new customers away from your non-green competitors.
• Reduce your reliance on the National Grid: Produce and store your own energy and protect your business from potential power shortages.
• Minimal maintenance: Once installed, solar panels will produce a reliable electricity supply. Most are guaranteed for 25-30 years and will only require a light clean every 12-24 months and a professional examination every 4-6 years.
• An attractive, environmental marketing campaign: Something to add to your website and another way to drive traffic to your business.

Return on investment

Achieving a healthy ROI is a goal of any business owner and with any new venture you embark on, you want to be safe in the knowledge that the return will be worth the investment.

Unlike some business investments, by installing solar panels, you will see financial benefits almost immediately through the dramatic decrease in energy bills. Following this, a standard commercial solar panel setup will achieve returns of more than 12% per annum and pay back costs within 6-8 years meaning that the initial cost and investment are more than worth it. If there were to be any disadvantage to installing solar panels for your business, it would more than likely be the cost. But we’ve got that one covered. We know how much of a positive impact it could have on your business, and because we are passionate about helping the environment, we are confident that we have a financial solution to help you on your way to installing solar panels for your business.

Going greener

Whatever your business sells, promotes or endorses, every enterprise has one thing in common. The desire and unspoken expectation to make positive contributions to our environment. In today’s modern world, moving with the times doesn't just mean keeping up to date with the latest technology, it means doing what you can to better the planet our children are inheriting.

• Solar is the most abundant energy source on earth and despite common misconception, solar panels do not require direct sunlight to produce electricity.
• As a renewable source of energy, solar power plays a very important role in reducing greenhouse gas emissions and mitigating climate change. This is vital for the protection of humans, ecosystems and wildlife.
• Using solar energy can also reduce water use from energy production and can even improve air quality.
• Unlike fossil fuels, solar power doesn’t use any pollutants and the only resource it needs to function is clean water.
• It reduces the strain on finite resources such as natural gas, coal and oil which are all contributing to global warming.

The current forecast for energy bills

According to the Office of National Statistics, “Electricity prices in the UK rose by 66.7% and gas prices by 129% in the 12 months to January 2023, and were some of the main drivers of the annual inflation rate” and the House of Commons Library states that energy prices will increase by 20% in April 2023.

With energy prices being one of the many uncertainties of today’s economy, there has never been a better time to invest in solar panels for your business. Take control of your energy bills and produce your own reliable, sustainable and cost-effective energy.

We are able to fund solar panels on a hire purchase or a lease agreement and our bespoke lender panel can fund solar panels over a 5-7 year term with competitive interest rates. This will allow you to spend the money you save elsewhere within the business. Speak to one of our account managers to get more information.

Let’s get started!