Media Release
In 2024, Australian businesses embraced energy resilience, installing a record-breaking 1GW of solar power on commercial buildings despite economic challenges. According to solar market analyst SunWiz, this is the first time the 1GW threshold has been surpassed in a single year. Since 2011, total commercial solar installations have now reached 7GW.
While the residential solar market contracted by 1.6% in 2024—the second drop since 2015—the commercial sector more than made up for it. Installations in the 15–100kW range surged by 16%, hitting record levels.
“Australia’s solar PV revolution has long been driven by residential installations, but we’re finally seeing the commercial sector take up the mantle,” said Warwick Johnston, Managing Director of SunWiz. “Businesses – from local grocers to multi-site manufacturers – are recognising the immense value of solar, particularly with regard to energy-bill savings and ESG benefits.”
Commercial solar funding makes financial sense for businesses
With commercial funding options for energy-efficiency equipment becoming more accessible, many small and medium-sized enterprises (SMEs) are making the switch to solar. This shift allows businesses to reduce energy costs while improving cash flow.
“Financing solar makes clear commercial sense,” said Guy Olian, CEO of Smart Ease. “It enables businesses to install a solar system with no upfront cost, and use energy-bill savings to cover repayments. Savings typically exceed the repayments, leaving extra cash to reinvest in profit-generating activities.”
Penrose Glass, a NSW-based glass manufacturing and repair business, took advantage of a Smart Ease Payment Plan to install a 39.1kW solar system in mid-2024. The system is expected to generate 39.1MWh annually, saving the company around $12,900 per year and putting them in a cash-flow positive position.
Brinsmead Farms, an agricultural business, installed a 50kW solar system integrated with three batteries. Their system is projected to reduce energy costs by 82%, delivering over $29,000 in annual savings—far exceeding their system repayments.
Large corporations benefit from solar power on a greater scale
The benefits of commercial solar extend beyond small businesses. Large corporations are leveraging solar power for major savings and sustainability gains.
Japanese multinational Komatsu Mining installed a 289kW solar system at their Parkhurst, Queensland site. The system is expected to generate over $147,000 in annual savings while preventing an estimated 185,892 kg of coal combustion each year. As Komatsu faces mandatory climate reporting, their investment in solar strengthens their sustainability strategy.
“A record volume of commercial solar was deployed on small businesses in 2024, and plenty of large businesses are rolling out solar power across their stores nationwide,” Johnston noted.
