Island Steel UK Ltd - 308kW Solar PV Install
Island Steel UK Ltd have been supplying & manufacturing various steel materials for over 20 years. Operating from their 80,000 sq ft production facility based in Newport, South Wales, the company has access to its own dockside wharf and is situated adjacent to a docks service railway line which connects in turn to the national railway network.
Due to the volume of production, the company requires a high demand of electricity whilst operating, creating annual electricity bills of over £30,000 and with energy prices continually rising, this would only increase.
CPSL Group analysed the feasibility of solar pv and how effective this would be saving on Island Steel's electricity costs.
After careful analysis, a 308kW solar pv system was designed & proposed as an optimum solution by CPSL Group. By installing this sized system, the solar pv would generate enough electricity to cover their 270,851kwh per year.
The company are predicted to save over £30,000 per annum from their original electricity costs, whilst also generating over £4,000 additional revenue per annum from the Government backed Feed in Tariff Incentive, supported at a fixed rate, for 20 years. These impressive savings resulted in a payback timer of 6 years and a predicted profit of over £600,000 over the 20 year period.
Along with the obvious financial savings he company will be profiting from over the next 20 years, there are also the positive environmental factors that Island Steel UK Ltd. Below demonstrates a breakdown of how the business will be contributing to reducing their carbon emissions.
CPSL Group supplied & installed a 308kW solar pv system onto the roof of Island Steel UK Ltd. This comprised of 948 solar panels in total. CPSL Group also installed Solar Edge Inverters & Optimisers to ensure maximum efficiency of the panels.
Electric Vehicle Charging Point
CPSL Group additionally installed 2 Electric Vehicle Charging Points on the premises. This demonstrates how Island Steel are planning for the near future as the UK has pledged that half of all new car sales will be hybrid or electric by 2030 as part of its “Road to Zero” plan. Employees & visitors sporting electric/ hybrid vehicles are now able to charge their vehicles on-site.