As a environmentally conscious Australian small business owner who is also looking to keep a lid on operational costs, there’s all sorts of strategies you can implement to reduce the greenhouse gas impact of your business and save money. One of the ways you can do so is to install a solar power system!
Aside from the lure of creating clean, renewable energy to run your own business and slashing your power bills, the Australian government offers additional incentives and rebates to encourage uptake of solar power by businesses and commercial enterprises!
Tax breaks for small business
On Budget Night, May 12, 2015, it was announced businesses with an annual turnover of under $2 million could claim immediate tax deductions on all purchases below $20,000 up until June 30, 2017; rather than those deductions needing to be spread over several years. However, this still needs to be passed in the Senate and consulting an accountant is strongly advised before proceeding with purchasing a solar power system.
Renewable Energy Certificates – RECs
Renewable Energy Certificates, also known as RECs, accompany approved solar power equipment. RECs are tradable and Energy Matters can arrange to provide a point of sale discount on our already low prices if you choose to assign the RECs to us; saving you the hassle of selling the certificates yourself and potentially saving you thousands of dollars on a system!
Feed in tariffs
A feed in tariff is where your business will be paid a premium rate over and above the current market rate for the electricity your grid connected solar power system produces. While a national, uniform program is still under consideration; each state currently has their own program or will be implementing one soon. Rates and program conditions vary from state to state. You can learn more about feed in tariffs applicable in your state here.
Solar hot water
Hot water can be one of the most energy intensive applications in a business. By installing a solar hot water system or heat pump, you’ll not only slash your electricity bills and greenhouse gas emissions, you can receive a further point of sale discount by reassigning any Renewable Energy Certificates (RECs) that accompany the equipment.