Renewable Energy Finance

We had a recent case where a client company had made the decision to make longer-term savings in their energy bills. 

As part of this process, the company is investing close to £23,000 in a Solar Energy creation and storage solution for their business premises.   

The business operates from a factory in the South of England where the roof is South Facing, ideal for harvesting Solar Energy. 

The customer is also purchasing new electric vehicles, which can be charged at work and, which allow the company to offset a higher proportion of their cost against taxable income than their traditionally powered predecessors. In addition, the drivers also be entitled to a far lower benefit in kind charge for having the use of an electric powered Company vehicle.

• Our customer is financing the cost of the Solar Solution over five years via a Hire Purchase finance agreement. This should allow for a first year Super deduction allowance allowing the business to utilise 130% of the cost of the system in their writing down allowances calculation.
• They will be able to run the factory using energy created by the new solar system from the first day of installation.
• The cost of the Hire Purchase repayments will be lower than the old monthly electricity bill - an immediate cash benefit.
• If the system creates more power than is used by the company then it can be fed into the Grid which it will receive payments for.

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