UK Commercial Buildings Could Save £35 Billion Annually with Solar Installations, New Data Reveals

LONDON - July 24, 2024 - PRLog -- A groundbreaking analysis by PowerMarket has revealed that less than 10% of the UK's non-domestic buildings utilise their available rooftop space for solar energy, leaving a vast untapped potential. With an estimated 128 GW of rooftop solar capacity available, commercial real estate organisations can significantly reduce energy costs, abate CO₂ emissions, and generate substantial revenue through solar installations.

According to the study, the 1,993,000 non-domestic buildings in the UK have a combined existing solar capacity of only 11 GW. By fully utilising the available rooftop space (128 GW), these buildings could generate 117 TWh of electricity annually. This is enough to power approximately 30 million homes for a year, significantly exceeding the number of households in the UK. Consequently, the potential annual savings for commercial organisations are estimated at £35 billion, with lifetime savings reaching £703 billion. Additionally, widespread adoption of rooftop solar could reduce CO₂ emissions by 22,629 Kt annually, which represents about 12% of the UK's 2030 net zero emissions target. This reduction is equivalent to taking 4.92 million cars off the road for a year or planting 1,028 million trees for life.

"This analysis underscores the immense financial and environmental opportunities that solar energy offers to commercial real estate owners," said Abhinav Jain, Founder and CEO of PowerMarket. "By leveraging their rooftop spaces, these organisations can not only save costs but also contribute to a more sustainable future, aligning with the UK's net-zero goals. The potential to generate enough electricity to power nearly every home in the UK and achieve 12% of our 2030 emissions reduction target highlights the transformative impact that embracing solar energy can have."

PowerMarket's innovative technology platform uses satellite data and computer vision to automate the lifecycle of solar installations, making it easier and more efficient for commercial entities to adopt solar energy. This platform supports the planning, installation, maintenance, financing, and trading of electricity, transforming buildings into virtual power plants. This approach saves up to 90% of time and resources while increasing solar adoption tenfold.

The analysis draws on data from multiple sources, including the Office for National Statistics and the Non-Domestic National Energy Efficiency Data-Framework, highlighting the significant role of solar energy in achieving energy independence and sustainability for the UK's commercial sector.

https://powermarket.ai/