Solar energy is fast becoming a popular and affordable solution for small businesses to reduce costs.
As more businesses are realizing the benefits of solar energy, they are steering towards using solar power to reduce costs in their business. Companies across the world are not just seeing the eco-friendly options of using solar energy, but they are also aware of the monetary benefits that come with using solar power. Using solar power for small businesses can be beneficial in the long run because it reduces electricity costs.
Here are some tips on how small businesses can save big costs with solar energy.
Free electricity in the long run 1,2
It takes an average of three to six years for a business to pay off the costs incurred on the installation of the solar panels. One the costs are paid off, the money saving phase truly kicks in. After you have recovered the initial investment, the system is generating free electricity. The typical life-span of the solar panels is for at least 25 – 35 years. This adds up to a good amount of free electricity for years to come. Since these installations have long warranties, you won’t need to worry about expensive maintenance either.
Energy price protection 3
Energy prices are known to fluctuate and change without warning that can cause a significant payout for a business. A business with its own renewable energy is self-sufficient and not affected by fluctuating prices. Even if the business is not 100% energy self-sufficient, having a portion of your energy come from renewable sources lessens the payout incurred.
Solar power banks can minimize downtime 1
A downtime can cause a disruption in business. When you have customers accessing your product or services anytime, it helps you to continue your business. Solar panels can be paired with a battery bank that stores excess energy. In the event of a downtime, one can consume the stored energy and keep your business running seamlessly so that you don’t lose valuable production or sales time.
Renewable power incentives by the Australian government 3
Households and small businesses across Australia that install a small-scale renewable energy system (solar, wind or hydro) or eligible hot water system may be able to receive a benefit under the Small-scale Renewable Energy Scheme (SRES) to help with the purchase cost.
Installing an eligible system allows the creation of Small-scale Technology Certificates (STCs) with a value that can be redeemed by selling or assigning them. The number of STCs created is based on:
- The amount of renewable electricity the system produces or the amount of electricity consumption it reduces
- The climate of the region where it’s installed.
Other aspects 4
The truth is choosing solar energies can be beneficial in any business as they can save a substantial amount of money. The changes you can adopt while using solar power for small business may or may not be limited to:
- Protection from power outages.
- Solar panels can significantly reduce your energy bills.
- Solar energy systems require little to almost no maintenance.
- It helps businesses create an environmentally responsible image.
- Using solar water heaters can cut down on costs incurred by water heating.
- Using solar lights for adequate lighting inside and outside the factory premises.
- Solar energy system providers offer flexible options like loans making it an affordable option for businesses.
The bottom line: Investing in solar energy for your business can not just contribute to a green way of living, but can also reduce your energy bills. Installing solar power systems can seem to be a mammoth investment, but its benefits make way for savings in the long run.
References
- How Your Small Business Can Save Money with Solar Energy – Business Partner Magazine
- How Solar Energy Can Save Your Small Business Money (nase.org)
- Renewable power incentives | energy.gov.au
- – 10 Ways Renewable Energy Can Save Businesses Money – Renewable Energy Magazine, at the heart of clean energy journalism
