The solar power industry is the fastest growing industry in Australia now. As of 2020, New South Wales ranks first with a whopping 108,922 installations of the solar PV system. Advanced technology, reliability, and affordability are the reasons for its success. Hence, many businesses in Sydney, Newcastle and Port Macquarie are shifting towards solar power. Given below are some of the reasons for businesses going solar.
1. Save on Energy Bills
Businesses in general, no matter big or small, suffer from sky-high electricity bills. Hence, it becomes hard to run a sustainable business when the electricity bill is too much to handle. Recently, there is a massive shift in the trend. Most business owners have managed to get rid of the extensive electricity bills by going green. According to CSIRO, nearly 362,000 small scale solar PV systems with a capacity of 3 GW were installed across Australia in 2020.
Australia relishes the highest solar radiation per square metre. Hence, a commercial solar power system can significantly reduce the cost of electricity bills for your business. Any type of business and industries can benefit from solar power. From mining, manufacturing to hotels and office buildings, solar power is a long-term investment with a solid lifespan of 25-30 years. Further, a commercial solar power system monitors both the generation and consumption of solar energy. It makes it easy for you to have a regular check on your gross consumption. Additionally, it does not require a costly maintenance routine, thus saving your time and maintenance cost.
2. Lasting Financial Benefits
Installation of the solar PV systems can earn you a decent Return on Investments (ROI). You can also avail of feed-in tariffs and other tax incentives. The Australian Government’s renewable energy incentives, such as the Small-scale Energy Schemes (SRES) and the Large-scale Renewable Energy Target (LRET), plays a crucial role in the growth of commercial solar power installation. Many commercial properties, businesses, factories, and industries benefit from these schemes. So, if you have an Australian Business Number (ABN), you may also be eligible for such incentives.
3. Large-scale Renewable Energy Target
The LRET provides incentives for the development of energy power stations. It awards you Large-scale Generation Certificates (LGCs) and promotes its sale. You can make money by selling them to companies or individuals looking forward to reducing their energy use and carbon emission.
4. Small-scale Energy Scheme
The SRES was introduced to help ease the high purchase cost of the solar PV system. It encourages individuals and small business owners to install and utilise solar power by offering a financial incentive. SRES awards Small-scale Technology Certificates (STCs) for every megawatt-hour of solar energy generated. You can make money by selling each of the certificates for $40 in an open STCs market.
A Thoughtful Green Business
Going solar makes you and your business environment friendly. As large-scale businesses and industries consume a massive amount of electricity, the emission of harmful gases is also dramatically high. Hence, by going green, you are improvising yourself as a thoughtful green business. When your industry or commercial building has solar power, the value of your business increases to a large extent. Further, it improves your brand image and credibility. It also allows you to promote your brand as energy-efficient and eco-friendly.
Finding the perfect solar power system for your business can be an overwhelming process. Depending upon the needs and size of your business, you have to install an efficient system that benefits you. So, reach out to our expert Bila Energy team to help you find the best solar power system for your business. We service the Port Macquarie, Taree, Newcastle, Sydney and surrounding areas.
