We embarked on a sustainable journey with the inception of our KRBON Reduction division a few years ago, which has not only turned out to be financially rewarding but more importantly, has contributed to our commitment to a greener future in the construction industry. The installation of PV (photovoltaic) solar panels was one change of many, in our quest for clean energy, and today, we reflect on the benefits of our investment one year on.
Why PV Solar Panels?
As you may know, PV panels harness the power of the sun to generate electricity, making them an eco-friendly alternative to conventional energy sources. Living in the NE of Scotland, we were a little sceptical about whether the solar gain would be much benefit to us. Placing our order amidst a backlog of material orders and fluctuating prices, thrown up by the pandemic, made us question our decision more than once. However, we stuck with the plan and after an extraordinarily long lead-in time (think years, not months), finally proceeded to install. Here’s what swung the deal for us to install PV solar panels (aka the theory behind the action):
1. Clean and Renewable Energy: Solar energy is an infinitely renewable resource. By using PV panels, we can reduce our carbon footprint, lower greenhouse gas emissions, and contribute to a more sustainable planet.
2. Lower Energy Costs: Installing solar panels could have a profound impact on our electricity bills. With the energy generated from the panels, we can reduce our dependency on the grid and save significantly on energy costs.
3. Financial Benefits: Much like other investments, there will be a period before we break even where the costs are higher than the benefits. After this initial period, we’ll essentially be producing free electricity! The long-term cost savings and potential for incentives and rebates make PV solar panels a wise financial investment.
4. Increased Property Value: Solar panels increase the resale value of a property. It’s an attractive feature for potential buyers who appreciate the long-term cost savings.
5. Energy Independence: By generating our electricity, we gain a sense of independence from utility companies. This not only makes us more self-reliant but also protects us from energy price fluctuations.
6. Environmental Impact: Each kilowatt-hour of solar electricity produced reduces the reliance on fossil fuels, helping to combat climate change and preserve our environment for future generations.
So, here’s how it’s going…
If you know our company, you know that we take pride in making efforts to combat climate change and be kinder to our planet where practicable and possible. Small changes can make a big difference, and this is communicated in our PAS2060 goals for carbon neutrality (which, by the way, we had in the bag 2 years ago – Go Us!!). The introduction of carbon-reducing installation equipment such as our rainwater harvesting system and PV solar panels is a testament to our common-sense approach to sustainability. Despite the earlier trepidation, the panels are performing as they should, soaking up the sun’s rays, even on cloudy days, to reduce our carbon footprint.
Having researched various energy creation solutions over the last few years, including wind turbines and ground sources, both of which presented many barriers, we are optimistic that PV is the right choice for us. Early indicators of the power being generated by the panels, along with the carbon and financial savings they are producing, gave a financial projection to break even over 7-8 years. However, based on current and actual power generation, we have since calculated that this will be achieved in 4.5 years. We are now planning further PV installation to bolster supply to our ever-growing facility which includes an increased fabrication space and the recent addition of EV charge points. Maybe time to change the KR logo to green?