Carlow firms to see solar energy payback 'two years ahead of schedule'

Carlow businesses switching to solar power can expect their new energy system to pay for itself in three years – two years ahead of government predictions, an expert has said.

New funding packages from €2,700 to €162,600 have been introduced to encourage more businesses to install a solar photovoltaics (PV) system.

According to the Department of Environment, Climate and Communications, the grants, operated by the Sustainable Energy Authority of Ireland, will “support 20-30% of the investment cost, reducing payback to as little as five years”.

But Adrian Casey, the co-founder of Swyft Energy, one of Ireland’s leading solar PV firms, said some businesses could see payback in three years.

Switching to solar power also helps businesses improve their carbon footprint and environmental, social, and governance (ESG) profiles, Casey added.

“A 30kWp system will reduce CO2 output by roughly 10 tonnes per year or 300 tonnes over the 30+ year lifespan of the system, which is the equivalent to planting 2,800 trees,” Casey said.