Solar power is one of the most adopted renewable energy sources globally. In 2020, Australia accounted for approximately 2.8% of the global solar energy consumption, which is only sensible given the sunlight we receive. According to reports, Australia’s solar capacity could reach 80 kW gigawatts by 2030.
But how is solar panel installation precisely beneficial for business owners?
1. Decrease In Operating Costs
The installation and maintenance of solar energy systems in Australia pays for itself and more, with an average of 4 years. Research shows that an 8kW system with 32 panels has an average lifetime return of $88,920.
The return of investment varies from state to state as government rebates programs are not the same. You also have to include the system size, amount of sunlight, type of materials, and monthly consumption.
2. Increase in Asset Value
A commercial solar panel installation can increase the value of your property. If you need to sell property in the future, solar panels can help you get better deals. A renewable energy source is an attractive selling point for entities with environmental initiatives.
“Many have realised the harmful effects of climate change. Because of this, they’ve become more determined to reduce their dependence on non-renewable energy sources.”, says solar energy advocate and small business loan provider Shane Perry of Max Funding.
3. Solar Rebates
The Australian Government encourages renewable energy by offering rebates for residential and commercial installations.
According to the Department of Industry, Science, Energy and Resources, Households and small businesses across the country can enjoy the Small-scale Renewable Energy Scheme (SRES). This program offers financial incentives for installing different renewable energy systems, including solar panel systems. It covers $2000 to $3000 of the purchase cost for a kW system (around 30% of the total price!).
4.Boosts Your Transformation Towards Sustainability
Be part of the global movement to reduce carbon emissions and mitigate the effects of global warming. You can start the transformation by going solar, which is also a financial investment.
Australia has one of the most rapid greenhouse emissions reductions through the renewable energy transition. If we maintain the rate, we can reach 100% renewable electrification by 2032.
5. Minimise Dependence on the Grid
Solar energy offers an alternate source for your daily operations. With a solar system in place, your business doesn’t stop during power interruptions. As a result, you have a competitive advantage.
Another understated benefit of having solar panels is gaining a better corporate reputation. Many consumers prefer businesses that demonstrate sustainable practices. Going green is one way to show them that you’re also working for the greater good and not just after profits.
Be A Business That Makes A Difference With The Help of Solar Panels
Make your business stand out by going solar today. Not only will you be doing your part to help the environment, but you'll also save money on energy costs. Solar panels are a great way to reduce your business's carbon footprint and positively contribute to the fight against climate change.
