When businesses are searching for every opportunity to save, solar is one of the simplest investments a company can make. Solar offers substantial long-term advantages and, in most cases, instant savings on the cost of power to keep the lights on even if financed.
In this article looks at the top 7 reasons your business should invest in solar energy.
1. Lower your business operating expenses by reducing your electricity bill
Numerous overhead charges in business can make or break your bottom line. Electricity bills are one such item that drains hundreds, if not thousands, of dollars from your wallet each month. Businesses that install solar panels, and generate their own electricity, can significantly reduce their electricity expenses, reducing overhead costs.
Whether you are a homeowner, a business, or a non-profit, energy bills can account for a significant amount of your monthly spending. With a solar panel system, you will create free power for your system’s lifespan. Even if you don’t produce 100% to cover the energy you consume, solar will lower your utility bills and save you a lot of money.
2. Reduce your carbon emissions and environmental benefits
Carbon dioxide is a major factor causing greenhouse gasses. The electricity industry produces most of the energy we use from fossil fuels. Using sunlight instead of fossil fuels is one impactful way your business can reduce carbon pollution.
As a business owner, you’ll have peace of mind knowing that your business is helping the environment by generating its emission-free electricity.
3. Increase the value of your property
Solar energy can enhance both energy savings and property value. Consumers are willing to pay high prices for solar-powered properties. Many people realise that solar panels can be profitable long-term investments. Electricity providers’ costs continue to rise even if solar power is free. Nonrenewable energy is not infinitely available. The renewable energy business is advancing due to resource depletion and stricter legal regulations in production. Adding a solar system will increase property value no matter the size of your business.
4. Boost energy independence
Another significant advantage of switching to solar power is independence from commercial energy sources. You can reduce or eliminate your reliance on your local power company by investing in a self-contained solar PV system. Aside from saving you money on overheads, you’ll have the assurance of a consistent electric supply regardless of what happens to the commercial grid.
Solar panels, unlike machinery or production equipment, have no moving parts. Many interconnected solar panels use a photovoltaic technique to convert the sun’s rays into live alternating current electricity.
A solar storage battery is useful when the power goes out and can also help you save money by providing energy at the most expensive times of the day.
Energy Matters can assist you in choosing the best solution for a solar battery’s suitability using our Solar Power and Battery Storage Calculator.
5. Earn a great return on your investment
Solar panels are not simply an expense; they are one of the best ways to invest, with returns comparable to more traditional investments such as equities and bonds.
Check out our page to learn more about how commercial solar is a good investment for Australian businesses.
6. Available government rebates, incentives and value of STCs for businesses
Another compelling reason for businesses to go solar is that the value of most government rebates that reduce the cost of a solar system is limited.
Feed-in tariffs (FiTs) are the payments made to businesses when excess solar power generated is put back into the grid. These are credited to your electric bill. Business owners should be allowed to negotiate pricing with their electricity retailer when connecting their system to the grid.
FiTs, STCs, and rebates differ by state and territory.
Systems larger than 100kW attract Large-scale Generation Certificates (LGCs) which provide yearly certificates that can be sold or transferred to entities liable under the Renewable Energy Target.
7. Improve your green credentials
Most Australian customers focus on purchasing from companies that demonstrate corporate social responsibility to people, communities, and the environment. Not only will solar increase the company image, but it will also give firms a green reputation for being environmentally conscious. In a competitive market, become the clear choice for customers over those that continue to utilise polluting old sources of electricity.
Is solar energy suitable for your business?
Solar energy has numerous advantages that are worth investigating. Investing in solar will minimise your operational costs, reduce your company’s carbon footprint, and prepare it for the future. A commercial property with a solar installation is excellent for business.
When installing commercial solar for a company, it is crucial to be informed of all types of federal government solar rebates, incentives and the many benefits these provide, as they may help Australian businesses become future-ready and sustainable for years to come.
Contact us today for up to 3 FREE quotations from commercial solar firms we’ve pre-qualified and vetted for their track record of delivering Australia’s best business solar systems.
Updated on January 2024