Wey Estates Limited operate Send Business Centre and the Tannery Studios which are filming and postproduction studios based in Woking.
The company operates 24/7 and provide energy to several businesses in the marina that are open during the weekend. Business Director George Hamburger was concerned about the upcoming increase in annual spend on electricity costs and thought that solar panels would be a smart investment to reduce their carbon footprint as well as energy costs.
Wey Estates Limited recently replaced their south-facing pitched roof. This paved the way for an easy solar PV installation. The Community Solar Accelerator scheme awarded the company with a £21,500 grant to install 64kW of Solar PV.
Assuming that Wey Estates will be able to use 100% of their estimated 60,700 kWh of generated electricity every year, the cost savings will be £9,100 at the current electricity tariff. However, as a contract renewal is coming up, the annual savings are likely to be significantly higher which in turn will reduce the payback period, probably to less than 3 years.
Solar Impact in Numbers
Size or Solar PV array: 64 kWp
Predicted production of electricity: 60,700 kWh per year
Predicted cost savings: £9,100 in the first year
Return on Investment: 3-4 years
Grant Amount Received: £21,500
Expected lifetime of the solar PV system: 25-30 years
Carbon Reduction: 21.4 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.