The easiest way of funding a solar PV array is using cash in the bank.
By funding the system via cash, not only do you own the asset from day one, you will not need to worry about interest costs eating into your return on investment.
This particular method of funding also offers some secondary and tertiary benefits that some of the other funding methods do not such as being able to take advantage of the Annual Investment Allowance (AIA)
Another benefit of using cash to invest in solar PV is that the unencumbered asset could be used to raise capital for the business in the future. Like any fixed asset, solar panels and the associated equipment can be used as security for borrowing if the business needs it.
The final main benefit of investing in solar via cash is that it could enhance the value of your property. At a time when electricity costs are spiralling out of control, and industry is under pressure to do their bit for the environment, demonstrating that you have a clean ‘power-station’ on your roof will likely make your property more appealing to any business looking to buy a new home.
BeBa Energy UK Ltd do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.