The UK has significant potential to expand its solar sector across existing commercial buildings, putting a spotlight on the minerals needed to support that growth.
This follows Good Energy urging the UK Government to extend Business Rates Improvement Relief for renewable energy projects to help unlock the “huge” potential for solar across Britain’s existing commercial buildings.
Good Energy says a longer-term incentive could give businesses greater confidence to invest in rooftop solar and other clean energy upgrades, strengthening the financial case for retrofitting existing commercial properties.
Under the current system, eligible improvements can benefit from improvement relief for one year.
The UK Government has committed to reviewing the relief ahead of its planned expiry in 2029. This provides an opportunity to strengthen incentives for businesses focused on renewable energy improvements to their properties.
Research from Cushman & Wakefield estimates that Britain’s industrial and logistics buildings have more than 1 billion square feet of usable rooftop space for solar. This could generate more than 36,000 gigawatt-hours (GWh) of electricity annually — equivalent to powering nearly 14 million homes.
Despite this, the UK Warehousing Association suggests that only around 5% of UK warehouses currently have solar installed. This means the vast majority of that 1 billion square feet of potential rooftop space remains untapped.
Commercial solar delivers benefits
Good Energy’s work at BSH Corby highlights the commercial opportunity available from putting existing roof space to work.
The installation comprises 1,200 solar panels, generating 550 megawatt-hours (MWh) of renewable electricity annually.
The system is expected to deliver up to £85,000 ($164,785) in annual energy savings and avoid 106 tonnes of carbon emissions each year.
Between 70% and 80% of the electricity generated is consumed on site, helping the business reduce the amount of electricity it needs to purchase from the grid.
The push to unlock solar potential across Britain’s existing commercial buildings also highlights the minerals needed to support solar photovoltaic (PV) generation.
Solar PV generation requires a range of bulk and trace minerals for panels, wiring, and associated energy storage.
Some of those minerals include copper, cobalt, nickel, lithium, rare earths, chromium, and zinc.
Zinc’s multifaceted role in solar
Zinc plays a critical, multifaceted role in solar energy systems, contributing to PV cell efficiency, structural durability, and large-scale energy storage.
Up to 568,000 tonnes of zinc is forecast to be consumed annually in solar PV by 2030, according to the International Zinc Association.
For reference, a solar farm supplying 110,000 homes requires roughly 240 tonnes of zinc.
The market is currently facing supply deficits driven by operational disruptions and production cuts at major global smelters and mines.
As a result of tight global mine supplies, zinc’s price has risen more than 23% in a year, trading at US$3,741.90 ($5,469) a tonne at the time of writing.
With less zinc being produced, explorers and developers are being put centre stage as they advance their zinc assets towards production.
Zinc supply pressures highlight explorer potential
Altoro Metals (ASX:ARO) owns the Novales-Udías Project, an advanced-stage zinc-lead asset in northern Spain.
“Novales is strategically located just 80km from Glencore’s [LSE:GLEN] San Juan de Nieva zinc smelter. We are positioned to deliver secure, high-grade domestic zinc straight into the European market right when it needs it most,” Non-Executive Director Myles Campion previously told this news service.
The Novales-Udías mineral resource contains 3.4 million tonnes at 7.6% zinc (Zn) and 0.9% lead (Pb), with the San José mine hitting significant levels at 9.18% Zn and 1.80% Pb.
Altoro began a surface diamond drilling program at the project in late October, testing continuity across a more than 12km mineralised corridor.
The program is designed to connect the historical San José, Margarite, Emilia, and Udías mining centres and support a unified mineral resource in the March quarter of 2027.
Underground drilling at Emilia recently returned 5m @ 13.66% Zn and 0.04% Pb, including 1m @ 25.70% Zn, as previously reported.
With the UK’s commercial solar potential and the UK Government committing to review the relief, zinc-focused companies such as Altoro Metals could benefit from increased demand for the metals needed to support this expansion.
Write to Aaliyah Rogan at Mining.com.au
Main image: iStock
