Solar panels allow farmers to sell the energy they produce to lower their bills.
However, most farms in England do not have solar panels - only 28 per cent have renewable energy in their fields.
The ECIU calculated that if the remaining 78 percent followed their competitors, energy savings and revenue could roughly offset the increase in fertilizer costs over the next two years.
This will save up to £1.1 billion.
While gas prices are expected to remain historically high for at least the next two years, other revenue streams, such as renewable energy, could be critical to the survival of some agribusinesses.
In the second quarter of 2022, farmers paid an average of 98 percent more for gas and 45 percent more for electricity than in the first three months of 2021.
Farms with renewable energy sources such as solar panels, wind turbines, and small hydroelectric power plants can generate additional revenue through power purchase agreements, either by selling excess energy to the grid or by leasing their land to power generators.
Solar panels on farmland mean the Government is cutting millions of pounds from its scheme to help meet electricity bills for businesses.
