Many business owners are turning to solar power, but some still aren’t sure if it is a good fit for their business and whether it will return a positive ROI. If you have considered solar power for your business, but are still on the fence, here are four reasons why it might be time to make the switch.
1. Solar power is now cheaper than ever
As often happens within most industries, technology evolves over time and equipment become less expensive. This has also happened to the solar power industry with systems now much less expensive than they were two or even five years ago. With the large range of solar solutions now available on the market, from a small 1.5 kW PV system, right up to 100+ kW PV systems, you won’t have any trouble finding a commercial system that is suitable for your business.
It’s worth remembering that the bigger the system the greater the savings, particularly if you pay upfront for the system. Also, if you install a 100+ kW PV system on your commercial property, you can take advantage of the large-scale generation certificates (LCGs) to save even more money.
2. Solar reduces your ongoing overheads
When you consider the increasing costs charged by electricity providers, installing commercial solar power provides your business with predictable costs that can be more easily allocated and managed each quarter. Depending on the size of the system and your kW usage, you can significantly reduce your power bills, if not completely eliminate them, and also receive money in the form of a rebate, if you produce more electricity than you use.
Adding in a battery system should set your business up for even more savings, particularly if you currently draw from the network in peak times. Then there are the tax incentives, where you can claim up to 85% of the purchase costs on your business tax and until the end of December 2019, receive a 30% rebate for switching to solar.
3. Solar shows your commitment to sustainability
Many businesses understand that advertising the fact that they use solar power is a very positive marketing strategy. Australians are very energy and environmentally conscious and they will often show their appreciation to a business if they know that they have switched to solar power. Did you know that for every kW of solar power you use, you prevent 2 tonnes of greenhouse gases from entering the environment? Informing your customers of your commitment to the environment is simply good for business.
4. Solar increases the value of your building
If your business operates out of commercial buildings that are owned by your company, then installing solar panels is a good investment for the future. Installing solar power today will increase the value of your buildings, which helps your business if you need to take out a loan at some time in the future, and also adds to its resale value if you need to relocate.
Many business owners will be more inclined to lease or buy your commercial buildings when they realise that you have installed solar power, particularly if you have also installed a battery system.
For more information on using solar power for your commercial business, call us on 1300 374 357 or request a free consultation and quote.