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Electricity Costs to Rise in 2017

Electricity Prices Rise Again

Electricity costs to rise by up to 15% in 2017!

How can you protect your business?

Over the past few months and even years many businesses, especially farming, have been facing new challenges caused by increased input costs and lower selling prices. We are also facing these challenges here at Moleenergy, so we have focused our efforts on controlling costs and increasing efficiencies.

Our challenge is that many of these factors that influence our businesses are out of our control. The squeeze from these external factors is likely to make trading harder rather than easier for many of us as we go forward. We know energy costs will continue to rise with some suppliers increasing electricity prices by up to 15% this Spring. But is it all doom and gloom?

Over the past few months the level of interest in commercial Solar PV systems has increased. Businesses are becoming more aware of the benefits, in terms of fixing costs and increasing bottom line profitability. Money in the bank is earning us nothing and there are very few places to invest with a decent return unless it’s high risk. So the smart move is to put your money to work reducing your overheads and increasing your profits.

Moleenergy are currently installing Solar PV for farms and businesses that are able to comfortably demonstrate a payback of 6-8 years. In addition, we aim to create a 15% return on that investment, which is over 15 times more than any bank! By investing in this technology you can fix a portion of your electricity costs at around 4-5p per unit for the next 20 years plus. With current rates of electricity at around 12p per unit, this offers a significant addition to the bottom line. The recent price rises are evidence that electricity costs are likely to increase even further, above the rate of inflation. As regular readers will be aware, the cost of Solar PV has dropped dramatically over the last 5 years from over £3,000 per kW installed to under £1,000 per kW for commercial systems. Added to this, the efficiency of systems and the ability to tailor to your needs has improved significantly.

So, there is no doubt that installing Solar PV is a compelling business decision, but let’s not forget the cherry on the cake that is the government incentive Feed in Tariff. Once secured, this tariff will give you a ‘bonus’ income on top of your bill savings for a fixed term of 20 years. In the case of a typical 50kW installation this tariff brings in an annual income of over £2,000 which is index linked for the full 20 year term. But be advised that this tariff is likely to be withdrawn soon, so installing now makes good business sense.

So, taking all the above into account, it’s no wonder that many businesses are adopting Solar PV as a financial solution, is it? Now, where’s my cheque book?

Contact us today, visit our website for more information or call us on 01803 732946

Struggling with your energy costs? Visit Moleenergy

Source Details

David Stevenson, Director of Moleenergy.

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