There are significant financial and environmental benefits for farms that invest and install solar panels.
Less than a decade ago, solar panels were considered a niche and experimental technology. Ten years on, solar has become the fastest growing energy source worldwide. Solar PV panels are now a mass-produced product, delivered at a cost-competitive price. In fact, whilst energy prices have increased year on year, the price of installing solar has plummeted.
A typical solar PV system will provide free electricity for more than 25 years, achieve returns of more than 12% per annum and pay back installation costs within 4 years.
Teagasc figures state that the average electricity consumption cost for the milking process per cow per week is €0.90. PV panels will greatly reduce this cost for you. Having PV reduces your carbon rating which helps increase your farm’s rating.