Octagon Precision Ltd offer precision waterjet cutting services and they are based in Southbourne, Hampshire.
“The anodising facility is a heavy user of energy and a significant concern when our contract expires. As the site owner we intent to secure energy security for our engineering operation while providing a long-term solution.” Rob Simmons, Director
The Community Solar Accelerator grant scheme was able to contribute a £25,000 grant towards the cost of a 128.8kW solar array installation on Octagon Precision Ltd.’s large roof space.
The solar is expected to generate around 123,700kWh every year of which Octagon is estimating to be able to use 97% of the electricity directly. This will match their operation hours very well and get the maximum benefit out of the panels. It is estimated that the financial savings will be in the region of £25,000 in the first year, potentially more as energy contracts are being renewed with higher electricity rates. The return on investment will be around the 3-year mark.
“The PR element will demonstrate a long-term plan to clients as a positive news story of a ‘traditional’ industry sector using clean energy solutions.” Rob Simmons, Director
Solar Impact in Numbers
Size or Solar PV array: 129 kWp
Predicted production of electricity: 123,400 kWh per year
Predicted cost savings: £25,000 in the first year
Return on Investment: 3-4 years
Grant Amount Received: £25,000
Expected lifetime of the solar PV system: 25-30 years
Carbon Reduction: 43.4 tonnes CO2e* per year
Date of install: May 2023
*CO2e calculated with conversion factor of 0.35156kg CO2e/kWh as confirmed with the managing authority.