Sebel Hotel owner Craig Richman said he spent nearly $80,000 installing 200 solar panels on the roof of his building in St John's Street.

The project should cut about $10,000 from his $60,000 annual electricity bill, he said.

"We figured that solar was something that we should be looking at, we did the analysis, paired up with a supplier and found that there was a really strong business case for it," he told The Examiner.

Mr Richman began looking at solar generation as part of his company's "sustainability journey".

READ MORE: James Griffin's comments to girls, 14, deemed 'reasonable, well intended and appropriate' after investigation

"We have made alot of decisions to be as sustainable a business as possible. As we looked into solar, we found out that the financials stacked up alot better than expected."

He said he was pleasantly surprised to discover the payback period for the solar investment would be as little as six to seven years.

He is now exploring the possibility of installing batteries in order to improve management of the hotel's peak periods of demand, and to provide more surety against future grid blackouts in Launceston.

Mr Richman is also considering installing two electric vehicle charging points in the hotel by the end of the year.

"We are seeing increasing demand for electric vehicle charging from our guests, and we are currently working with the same supplier to scope out what's the most appropriate EV charging for us."

READ MORE: Launceston to host first men's one-day cup game since 2009

A variety of options for the chargers are under consideration, including the "super-fast" variants capable of charging cars in 30 minutes.

Mr Richman has partnered with Hobart-based solar provider I Want Energy to consult and install the panels.

Alex Johnstone, solar design and sales manager at I Want Energy, said he would monitor the hotel's new electrical system for the next four to six months to gauge whether installing batteries makes economic sense.

That monitoring is necessary to establish how much electricity the new solar system on the roof of the hotel is generated over winter and summer, he said.

"I think the six month mark will be key for us because we will have seen the system operating in both the shortest day of the year and the longest day."

READ MORE: Census shows social housing increase nowhere near meeting demand

"Part of the solar system that we're doing for the Sebel here is also monitoring the consumption profile for the whole hotel [in order to] get very accurate calculations on savings, and to build a case as to whether or not batteries make financial sense."

The end goal is to reduce emissions and boost energy security of the business.

"Energy security has become more important now than it ever has before in these uncertain times, and batteries can provide that," he said.

Mr Johnstone said it cost just $78,000 to install the 200 panels on the Sebel's roof, including a $40,000 rebate under a federal scheme.

The cost of batteries has increased recently due to supply chain shortages, but are expected to keep on dropping over the longer term, he said.

Mr Richman said the new solar energy system had already begun to affect his business decisions at the hotel.

"I've just ordered an electric oven to replace the gas oven, and if I didn't have solar on the roof, I'd never have done that."

Our journalists work hard to provide local, up-to-date news to the community. This is how you can continue to access our trusted content: