How businesses can benefit from switching to solar
All over the world, more and more people are turning to renewable energy sources, as the cost of electricity continues to rise. In a country like Australia, where sunshine is abundant, solar power is quickly becoming the option of choice for millions of households.
What about commercial properties, though? Are commercial solar panels a good financial investment for your business? The short answer is YES and here are five main reasons why your company should invest in solar power now:
- Up to 90% reduction in electricity bills;
- ROI in as little as three years;
- Reduced carbon footprint;
- A more sustainable future;
- Creating power over the competition.
1. Up To 90% Reduction in Electricity Bills
Electricity prices in Australia are expected to rise even further as fossil fuel resources get depleted. With solar panels, you can generate your own electricity, so you won’t have to rely so much on your energy retailer.
Electricity bills are often a huge part of a company’s overheads and this alone makes solar panels a sound business investment, but also, compared to five years ago, solar panels are now more affordable. A complete solar energy system installation will cost you around $4000 to $10,000 with a government rebate.
Once installed, commercial solar panels deliver long-term, cost-efficient energy. EnergySage marketplace data reveals that the average commercial property owner may be able to reduce their electricity bill by a whopping 90% after switching to solar power.
On top of these savings, you may be eligible to receive tax incentives for your solar panels if you claim them as a capital improvement of your business premises. If you are leasing, you can declare your solar system as a leasehold improvement.
After paying for your solar installation, there will be almost no maintenance costs – most retailers offer a 25-year warranty that guarantees you a much cleaner, much cheaper energy source during that period. Once the initial capital is covered, your investment will start paying dividends and continue to do so for the next two decades.
2. ROI In as Little as Three Years
The real benefit of solar power starts when your system is finally able to generate free electricity, and this often happens within just a few years.
In business, investments are only worth considering if they pay themselves within seven years. Solar systems can do this half the time! Thus, if a business operates on 25% solar, you can get your investment back in as fast as 4 years and 3 months. Similarly, if a workplace depends on solar 50% of the time, then the ROI timeframe is just three years.
3. Reduced Carbon Footprint
Carbon dioxide emissions are released into the atmosphere due to human activities such as electric heating, electric cooling, driving, and burning fossil fuels. These harmful emissions absorb infrared radiation and trap heat in the atmosphere, leading to what we call global warming and excessive heat in the earth’s atmosphere can have a negative effect on climate and weather patterns.
Solar energy can help slow down global warming by generating power without producing harmful emissions. As a business, you can make an impact on the planet by switching to solar power and reducing your carbon footprint.
Since most commercial businesses consume energy during the daytime, solar panels allow you to reap the full benefits of free and clean energy generated by the sun. By operating on solar energy during the day, you buy significantly less power from the grid.
Installing solar panels on your roof can also add value to your property. Many customers appreciate corporate green initiatives, which are likely to enhance the desirability of your business premises.
4. A More Sustainable Future
We have to start investing in renewable energy to secure the future of our planet. Solar energy is the most abundant renewable energy source available, and solar panels make total sense in Australia where the sun is out 2,200 to 3,200 hours each year.
The perfect time to invest in solar energy is now, especially since Australians are more aware of the impact of fossil fuels on the environment. You can highlight your commitment to the environment on your marketing materials and corporate website, which could be a strong selling point for environmentally conscious consumers.
5. Creating Power Over the Competition
Going green is not only good for the environment but it’s great for the corporate image too. By investing in greener energy alternatives such as solar panels, a business can clearly show its intent in fighting climate change. This could serve as a great PR tool in boosting the overall image of the company.
Many customers and communities are more likely to support a socially responsible business. In fact, 30% of consumers plan to increase their spending on green companies, and 47% of young customers are willing to pay more for eco-friendly products.
Why are Some Aussie Businesses Hesitant About Investing in Solar?
Commercial solar panels can require large capital, depending on the size of the property. The good news is that finance partners and finance options are available to help business owners make the switch to commercial solar panels without straining their cash flow.
Business Considerations Regarding Solar Power
Solar power can be beneficial to all types of businesses since every company needs electricity for lighting, computing, heating, cooling, and other production processes. It does not matter if you are building a start-up or sitting on the board of a Fortune 500 company; you can significantly cut down your energy bill by installing commercial solar panels.
Solar energy is a good fit for everyone, but it does require you to make a substantial investment in equipment and hardware. Here are the types of business who are best suited to solar array installation:
- Businesses who have a large energy load requirement.
- Businesses who are serious about the environmental issues.
- Businesses who operate in states that have high electricity rates, such as South Australia and New South Wales.
- Businesses who want to save money on power bills and channel those funds to other expenditures such as personnel and operations.
- Businesses who manage different locations with vast rooftops for an easy and effective solar array installation.
- Businesses who prioritise offsetting electricity consumption at a local level.
If any of these sound like your firm, you can truly benefit from installing commercial solar panels on your company premises.
Aztech Can Help Improve the Energy Efficiency of Your Business
If you own a business in Australia, investing in commercial solar panels can be a more efficient and environment-friendly way of running your overhead expenses. Solar installations are now more affordable than ever, and they often pay themselves in just a few years, which means you can enjoy a nice return on your investment for decades.
If your business is in Newcastle, The Hunter Valley, Lake Macquarie, Maitland or Port Stephens, we can certainly help. Visit our website at aztechsolar.com.au, call us on 02 4067 2634, or send us a message click here for a free quote.