Owen Sweetman, director EQONIC Group looks at the benefits of solar power.
When it comes to making properties environmentally sustainable, most people think of energy efficient appliances, better insulation, smart thermostats and sustainably made furnishings. While all of those are important, the most effective step a property owner can take is installing a system that generates renewable energy onsite, converts it into electricity, and stores it to be used by the occupants or feeds it back into the grid.
For property owners the idea of installing solar panels and battery storage systems can seem daunting. Amongst many, there is still a perception that decarbonising buildings is a nice idea in theory, but not practical from a cost or feasibility standpoint.
However, the reality is, decarbonisation is no longer a question of if, but when. The UK government has laid out its Future Homes and Buildings Standard, requiring all new homes from 2025 onward to produce 75-80% less carbon emissions than current properties, eventually becoming net zero. The legislative framework is there to drive change.
At EQONIC we help commercial and residential property owners decarbonise their properties by providing end-to-end energy storage solutions, renewable energy generators, ancillary items, and installation and commissioning services.
We’ve addressed some of the top concerns property owners who are yet to start their decarbonisation journey, have when they come to us.
“I don’t have the upfront capital to convert my property into a more sustainable one. How can I pay for this?”
We totally get it. With budgets already stretched, many property owners simply don't have the capital to make these investments, despite increasing pressure to do so from tenants and regulators.
To solve this, we have developed an innovative solution called EQONIC+, a turn-key solution to not only fully fund the solution to de-carbonise their buildings, but to implement it as well. Our funded solution is backed by a tier one bank allowing property owners start producing and benefiting from clean energy on day one with minimal up-front outlay and Return on Investment (ROI) starting in year 1.
“How financially viable is it to decarbonise my property and what financial benefits can I expect to see from it?”
The long-term payoff of using sustainable energy makes an extremely compelling case. Property buyers are increasingly willing to pay a "green premium" for sustainable homes which saves them money through reduced energy bills. Recent research from Halifax showed homes with the highest energy efficiency ratings are on average worth up to £40,000 more than less efficient properties.
Our financial modelling shows that by using our fully funded solution most properties can achieve positive cash flow starting in year 1 after installing a sustainable energy solution that generates and stores renewable energy onsite.
It’s also worth noting that an increasing number of tenants are willing to pay more for an environmentally sustainable space. Historically, buildings with green certifications have commanded a 6% rent premium according to data from Dalton and Fuerst.
“I want an aesthetic installation that blends with my property’s exterior, is easy to use and offers long-term reliability. Is that possible?”
In a word, yes. Our process begins with a comprehensive site visit to determine a building's current energy consumption and requirements. We then design and deliver a fully tailored energy solution that generates and stores electricity from renewable sources. Our systems include options for remote monitoring, maintenance, and insurance against accidental damage and theft - all while blending seamlessly into the existing structure.
The National Housing Federation revealed the average home in England produces more carbon dioxide every year from heating and powering than it does from driving a car. With buildings accounting for 40% of the UK's total CO2 emissions, property owners must prioritise decarbonising their properties to help reduce CO2. The advanced technologies required exist today to generate and store renewable energy onsite in a cost-effective, aesthetically pleasing way. A movement towards sustainable housing is well underway, and property owners across the country are already taking steps to embrace clean energy solutions.
The question now is: which property owners/landlords will emerge as leaders, paving the way for a greener, more energy-efficient future for the property market?