Fast read
Businesses worldwide are increasingly adopting solar power because of its multifaceted benefits. Solar helps businesses significantly reduce monthly energy bills by generating their own electricity, thereby decreasing dependence on the grid.
This investment not only leads to financial savings but also enhances a company's public image, showcasing its eco-friendly stance and commitment to combating climate change. Moreover, adding solar panels can increase property value, making properties more attractive to potential buyers.
Solar also offers a safeguard against the unpredictability of rising electricity costs, ensuring a consistent energy price in the long run. Solar energy is getting cheaper, making it a good time for businesses to consider using it. Before installing solar panels, businesses should think about where they are located and what the climate is like. However, it's important to consider factors such as location and climate before installing solar panels.
Is Solar viable for a business?
Business owners often dread receiving the energy bill at the end of the month. This is especially true with the expected increase in energy costs. To work out whether solar power makes sense for your business, you must first get an understanding of your energy bill.
To do this, you can simply have a look at your past power bills and averaging them, or ask your energy provider for an annual report.
After this, you should explore what options are available for your specific roof. You can do this by sizing your roof to work out whether it will be worth your time and money to install a solar system.
After these two steps are done, you should understand what your business goals are. If you are looking to grow your business then solar may be the option for you.
So what are the major benefits of solar power for your business?
Reduce ever-increasing energy bills
The first and most obvious benefit for your business is the significant reduction in energy costs. If your business currently has high energy costs then it makes complete sense to get a solar system. When you produce your solar energy, you no longer have to buy large amounts from the grid which means you don’t need to pay such high rates for your electricity. With this spare cash you are saving, you can reinvest more into your business, a goal most businesses aim for.
The money spent on a solar system can be earned back in just a few years. Solar panels last a long time, with warranties of up to 25 years. This means they are a good investment that saves money in the long run.
Increase your positive public brand image
A crucial factor to a business is its public image. If a business has a negative public image then it may damage their reputation as well as sales. This is where solar can help as it highlights how your business is considerate and eco-friendly. Furthermore, it allows you to promote your business as standing against climate change which is a crucial variable for customers in this day and age.
Sustainable business practices and compliance with Government initiatives
Various government bodies across Australia are enacting legislation and initiatives to encourage sustainable practices within the corporate sector. Businesses can reduce their carbon footprint and support sustainability goals by switching to solar energy and batteries. This compliance can translate to eligibility for grants, tax incentives, and overall favourable standing in regulatory assessments.
Increased property value
With the current electricity prices and constant innovations in solar, many are expecting the value of having solar power to increase in years to come. This means that once you install a solar system you won’t only see their value in savings, but also their ability to increase property value. Since they can provide a business with lower operating costs, high ROI and low maintenance costs, they become a large asset for your business.
Since there is also a continuous increase in electricity costs and solar’s popularity, it’s not surprising that business owners prefer to buy buildings with solar systems installed on them.
Also, having solar panels on a building increases its energy efficiency rating, making it more appealing to buyers and investors.
Protection against rising costs
Electricity prices are going up in Australia. We can’t control it because we are locked into energy contracts. These contracts could cause prices to surge at any moment.
However, when you invest in a solar system, you break the bond between the rising prices and your business. Although your system might not cover all your electricity costs, you can rest assured knowing that a large portion of your energy consumption will be provided free from the sun.
Resilience during power outages
In addition to the cost savings and environmental benefits, solar power systems, particularly those paired with energy storage solutions, provide an added layer of resilience to businesses. A solar battery system can keep the power on if there is a power outage or grid failure. This prevents interruptions in operations and loss of money.
Employee benefits – electric vehicle charging
As the transition to electric vehicles accelerates, having an on-site solar-powered charging station becomes an invaluable perk for employees. Providing free or discounted EV charging stations can be a great perk for employees. These stations are powered by the company’s solar and battery systems.
This initiative can also help promote an environmentally friendly workplace culture. As EVs become more prevalent, offering charging facilities could also become an expectation, making early adoption a wise move.
Supporting the local economy and job creation
Investing in solar and battery installations supports the local economy by creating jobs in the renewable energy sector. Businesses can support regional economic growth and job creation by selecting local solar contractors and maintenance services. This can lead to positive ripple effects within the community.
Learning and innovation opportunities
Embarking on the solar and battery journey for your business can also spark innovation and learning within the organisation. Workers and managers can collaborate to monitor and enhance energy usage. They can experiment with new solar technologies and brainstorm ideas to reduce carbon emissions and costs. This in turn can lead to a shift in the way employees think about energy.
In summary
The rationale for businesses to adopt solar and battery storage systems is compelling, encompassing financial gains, enhanced brand image, operational resilience, and a step towards a sustainable, electric mobility-friendly infrastructure. Moving towards a future with more renewable energy sources and electric cars is important. Switching to solar and battery systems is a good business choice. It also shows a commitment to being sustainable.
Also, it will protect your business from energy price increases. Given the affordability of solar in today’s day and age and the continuous price decrease, it is certainly a good time to have a look because solar and in some cases even larger batteries do make sense for businesses. Just like with a residential solar system, factors like location, climate, and surroundings must also be considered.
