Today’s world faces two significant crises – a degrading environment and increasing energy demands. Both problems present serious implications for businesses worldwide. A growing number of companies are turning to the sun to address these issues. Once a fringe choice, solar energy has become a mainstream solution with manifold long-term benefits.
Below, we spotlight the long-term benefits of commercial solar installation for business owners.
Today, solar installations are not just environmentally sound; they also have compelling economics. Investing in solar power makes financial sense for businesses, the implications of which reverberate across decades.
Foremost, solar infrastructure provides you with sizeable savings. Every kilowatt of solar energy reduces the reliance on utility companies and their unpredictable charges. Therefore, over the solar panels’ operational lifespan (typically 25 years), you may save up to hundreds of thousands of dollars in energy costs. Moreover, your savings will help your solar installation pay for itself for the first five to seven years. As a result, you get to enjoy effectively free electricity for the remaining 18-20 years!
Incentives and tax benefits further sweeten the deal. Many federal, state, and local incentives exist to encourage businesses towards renewable energy sources.
Primarily, you can benefit from Small-scale Technology Certificates (STCs) under the Australian Federal Government’s Renewable Energy Target scheme. This scheme provides financial incentives for installing renewable energy systems.
Secondly, if you install a solar power system with a capacity of 100kW or more, you can partake in the Large-Scale Generation Certificates (LGCs) program.
Furthermore, certain Australian states and territories offer net feed-in tariffs where you receive payment for surplus solar electricity that you feed back into the grid.
The potential benefits go even further, with some businesses using commercial solar battery storage to sell power back to the electric grid during high-peak periods when prices increase.
Increased Property Value
Businesses aiming for a long-term perspective should also recognise the potential for increased property value from solar installations.
Many studies show that solar-powered properties are perceived as modern, innovative, and sustainable, thus attracting a premium during transactions. Indeed, your commercial property’s value can increase significantly after installing a solar panel system.
Switching to solar energy can be a powerful brand statement, demonstrating your commitment to sustainability. Going green is not just for the planet but also for the customers who value corporate responsibility. Therefore, adopting solar power attracts positive publicity and builds trust and brand loyalty – all essential elements for long-term success.
Solar power is a pathway to ensuring energy independence. Instead of being at the mercy of fluctuating utility prices and potential energy supply disruptions, you generate your own power. This level of security can be a significant asset, particularly if you must grapple with high energy demands (such as manufacturing). Additionally, as technology evolves, solar solutions like solar-plus-storage systems evolve, too, offering ways to store excess solar power for use when necessary.
While the benefits of commercial solar installation are numerous and profound, it is essential to remember the longer timeframe at play. A successful transition to solar energy requires strategic planning and smart decision-making. But the savings, value, and sustainability rewards are undoubtedly worth the investment.
Additionally, this shift towards commercial solar panel installations is essential in the face of higher costs of traditional energy sources and more evidence of climate change. Consequently, there has never been a better time to harness the sun’s radiant energy.
Commercial solar installation is a sound investment with tangible benefits encompassing and extending beyond bottom-line considerations. So, don’t hesitate to contact a solar installation expert who will help you embrace the sun for a brighter, cleaner, and more prosperous future.