J Banks & Co. Ltd: Cutting Down Your Energy Costs
At A Glance
Company: J Banks & Co. Ltd
Location: South Staffordshire
Activity: A door and window hardware manufacturer
Support: Free Energy Assessment, and Low Carbon Grant
Project: Installation of a 520 kWp Solar PV Array
Project Cost: £298,000
Grant: £50,000
Savings – £ / yr: 74,965
Savings – kWh / yr: 268,203
Savings – CO2 tonnes / yr: 94.9
Payback Period (without Grant) / yr: 3.9
The Project
J Banks & Co. Ltd are a door and window hardware manufacturer located in South Staffordshire. They were able to move forward with installing a 520 kWp Solar PV Array after they had an energy assessment.
“We were able to gain a better understanding of our energy usage and the possible measures we could implement to reduce our energy usage.”
Benefits of installing a Solar Array
When it comes to investing into solar panels, the cost of the project may be a bit daunting as the price of the installation can often be very steep. For J Banks & Co. Ltd the project total cost was £298,000 for a 520 kWp Solar PV Array. After they received a review for their site their potential annual savings were shown to be £74,965, and energy savings of 268,203 kWh per year which resulted in a decrease of 94.92 tonnes of carbon emitted.
With these estimated savings J Banks & Co. Ltd would be able to see the financial difference in 3.9 years. However, with the added £50,000 grant towards this installation, the payback reduced to only 3.3 years!
“The solar array has reduced the amount of electricity required from the National Grid, which in turn has cut the overall energy costs for the business.”
Installing solar is a great way to become more self-sufficient and increase your savings.
“The BEAS Grant has meant that we have been able to go forward with this project quicker and we have been able to reap the benefits sooner.”
Goals
Like J Banks & Co. Ltd, you too could achieve huge financial and energy savings, allowing investment in other areas of your business that could help you to strengthen, grow, and achieve your goals.
“J Banks & Co. Ltd expect our energy costs to be massively reduced moving forward now that the project has been completed, and we hope to be a big step closer to achieving net zero, as per our sustainability targets for ISO14001:2015.”
Their Experience
Going through the application process can often take a bit longer than expected and can make arranging quotes a bit tricky. However, our team at sben are here to help you with every step.
“The help and advice provided to us by Lisa during this process was excellent and it was a pleasure to work with the sben team on it.”
Find out more
If you would like to look into our funding options then check out our sben Funding & Support page; or, join our sben membership for free and stay updated with funding opportunities and other possibilities through our monthly newsletter.
