Gone are the days when installing a solar panel at your home probably meant you were an environmentalist doing your bit to save the earth.

Today, a broad range of professionals are going solar for the sake of their bank balances, according to renewable energy experts Bermuda Engineering Company.

The company — which installs solar panels on homes and businesses across the Island — has received a surge of interest from homeowners keen to make savings on their energy bill.

The benefit for the environment, of course, is that they’re reducing their carbon footprint as they cut their monthly Belco payments.

“We are at the point now where installing solar is not just about doing the right thing for the environment. It’s financially very compelling,” said Travis Burland, chief engineer at Bermuda Engineering Company.

“It’s one of the best investments you can make. It’s a low risk and low cost investment with great financial returns.

“We used to get environmentalists calling us and asking for an installation. Now there are more clients from financial backgrounds: accountants, lawyers, anyone who can see the savings they can make.”

The company has fitted more than 1,000 solar electricity panels in the past 18 months.

Savings vary, but allowing for increases in Belco’s rates, most systems pay for themselves within five to seven years, and last more than 25 years.

Estimated costs and first-year savings, are as follows:

* 1kW micro system: base price $6,250, yearly savings up to $700

* 2kW cottage system: base price $9,600, yearly savings up to $1,400

* 3kW small home system: base price $12,800, yearly savings up to $1,880

* 4kW regular home system: base price $16,000, yearly savings up to $2,505

* 5kW large home system: base price $19,400, yearly savings up to $3,130.

Those savings will be even larger if Belco prices continue to increase at the same rate as they have for the past decade.

Mr Burland said: “The solar electricity systems are extremely reliable; they have no moving components and very little that can go wrong.

“Hundreds of people have already taken it up in Bermuda. I believe the biggest hurdle is education. I believe a lot of people aren’t aware how affordable it is. They think going solar is $50,000, but it’s actually more like $15,000.”

Manager and solar specialist Stuart Kriendler said there is also an increasing awareness of the environmental need for renewable energy.

“We’re definitely hearing more people say they’ve got children and it’s very important that we start thinking about the environment,” he said.

“There’s a bit less selfishness, and people are thinking, ‘what kind of a planet are we leaving for our children?’

“More and more people are cognizant of that and are reacting accordingly, which is good.”

Bermuda Engineering Company was founded in 1935 by Gordon H Burland, the great-grandfather of Travis.

Gordon H Burland pioneered the first wind turbine and micro-grid in Bermuda and designed a solar water heater for use on the Island, but it was never produced due to the onset of the Second World War.

The company’s efforts today remain focused on making advances in renewable energy.

“It’s not just about making money for us,” said Mr Kriendler.

“It’s about creating a legacy, putting Bermuda on the map as a showcase for renewable energy.”

As well as solar electricity, the firm, based at 48 St John’s Road, Pembroke, sells products including LED lighting and heat pump water heaters, solar hot water and variable speed pool pumps.

Mr Kriendler said: “We give the most cost-effective advice. We go into people’s homes and businesses and we tell them how they can make the biggest savings with the least cost.”

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For more information, call 279-5907 or visit www.bermudaengineering.com