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Solar power in one square mile of London could cut businesses’ electricity bills by £4.7m

London, UK, Wednesday 24 May 2023: Calculations by Electron Green reveal in one square mile of London alone, businesses are missing out on £4.7m in savings every single year on their electricity bill because they don’t have solar PV installed on their roofs. 

The rooftops of London’s commercial buildings are extensive – in this one square mile in Parks Royal in North London, there are 977,894.35 m2 of commercial and industrial rooftops. 

These largely empty, underused spaces hold untapped potential for solar power which could help the UK reduce its dependency on foreign energy, slash carbon emissions and save companies millions of pounds at the same time. In this one square mile alone, the potential savings are up to £4.7m every single year, and there is no need for any capital outlay.

With British businesses still being hit hard by sky-high energy bills, and latest reports finding new renewable energy sits are set to wait up to 10 to 15 years to be connected to the national grid, many businesses are in a dire situation and will be forced to close.

Adding low-cost green solar electricity to businesses’ energy mix, directly from their own roofs, will significantly reduce bills and provide certainty in an increasingly uncertain world. But landlords are a major barrier to businesses accessing cheap solar electricity – under current FRI lease terms, tenants need express permission from landlords to make ‘material changes’ to properties, including installing solar. And the majority of landlords simply don’t care about their tenants getting cheaper electricity prices. 

Daniel Green, CEO of Electron Green comments, “As the UK attempts to wean itself off its heavy reliance on fossil fuels and shift to renewable energy sources, there is a huge opportunity to harness commercial rooftops to generate solar electricity without capital outlay. Yet this is being roundly ignored by both our government and landlords. In the USA, they are already making great headways with installing solar panels on big-box stores and shopping malls. The UK must follow suit.

He continues, “The government must legislate that putting solar on commercial building roofs does not constitute a material change, thereby removing the landlord barrier standing in the way of businesses accessing cheap electricity.”

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