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Solar panels 'positively impact the performance of commercial property'

Solar panels 'positively impact the performance of commercial property'

Solar panels 'positively impact the performance of commercial property'

Installing solar panels on the roofs of commercial property can help the firm to reduce its overall running costs.

This is according to the findings of a new report from Solarcentury and real estate professional services and investment management company Jones Lang LaSalle (JLL).

It was noted that such an action can also help a business to meet government targets for improving the performance of buildings, as well as generally increasing the value of the property by creating additional income streams.

The market research study analysed the experience of commercial properties that already have solar roofs, in addition to carrying out a review of valuation methodology.

Uptake of solar is thought to be on the rise - and this trend is driven by two key factors. First, the projected 60 per cent increase in the industrial price of electricity in real terms by 2024 has driven landlords and tenants alike to seek out ways to reduce their usage or generate additional power on site.

The 2019 zero carbon requirement for commercial buildings imposed by the European Union was cited as another factor contributing to growing business interest in solar power.

Another way companies can do this is by taking more proactive steps to manage their energy consumption and reduce their carbon footprint. Switching to environmentally-friendly professional cleaning services, such as those offered by Aurora, can also help.

We only use biodegradable and carbon free products to clean premises, so taking advantage of our services will undoubtedly help to minimise a business's wider impact on the environment.

Chief executive officer at Solarcentury Frans van den Heuvel acknowledged a lot of the rooftop solar panel growth has been driven by domestic and utility customers so far, but said he believes this is about to change.

He explained that there is strong evidence backing this and showing that commercial and industrial customers, which he suggested is being driven by changing attitudes to sustainability as much as positive economic factors.

Mr van den Heuvel noted that the technology has also improved to the point where it is now able to make a demonstrable impact on the performance of commercial buildings.

Furthermore, a range of the most popular brands are leading the way by embracing such technologies, including the likes of Apple, Google, Ikea, Mars and Sainsbury's.

JLL director in valuation Chris Strathon said: "This is the first in-depth research into understanding the impact of solar and it is clear the majority of commercial roof space is untapped as an additional revenue provider."

"The research is timely given the recent surge in demand for solar on commercial roofs, driven by new legislation and increasing awareness of the opportunity to monetise the large unused roof spaces of commercial properties," he continued.

"We believe rooftop solar on commercial property adds value by improving the marketability of a property to occupiers who are driven by cost or corporate social responsibility objectives and additional income which is received via power purchase agreements and government-backed tariffs," Mr Strathon said.

 

Posted by William Rodriguez

Image courtesy of Thinkstock/iStock