Renewable, clean energy can provide numerous business and environmental benefits. It is more important than ever for business owners to understand how they can make their business more efficient, sustainable and eco-friendly.
An efficient power source
Solar power is generated by a source that will not run out, and solar energy technologies such as solar panels are very low maintenance and have a long lifespan.
Renewable energy provides energy security from a dependance on foreign energy sources. Investment in renewable energy is also creating jobs.
Installation of solar energy technology gives your business access to a reliable source of renewable energy that can provide protection against daytime spikes in energy costs.
As an infinite source of power, renewable energy provides long lasting benefits for your business.
Environmentally friendly
Solar power has a much lower environmental impact than conventional energy technologies.
Using solar energy to generate electricity will reduce your business’ carbon footprint and decrease greenhouse gas emissions.
Working towards reducing your consumption of fuels, reducing greenhouse gas emissions and pollution can help businesses play a part in stopping global warming and reducing Australia’s dependence on foreign sources of energy.
Cost savings
Investing in solar energy may generate both long-term and immediate cost savings for your business. Using solar energy can help you lower your electricity costs and save on your monthly bills.
Conventional energy technologies experience great price fluctuations, whereas renewable energy prices are stable and continually decreasing. Investing in solar power can future proof your business against the rise in electricity prices.
Solar panel technology is also much more affordable now than it was years ago, and many businesses may be able to recoup the cost of installation within just a few years, ensuring a good return on investment.
The money savings to be gained from solar power may have a significant impact for small and big businesses.
Positive business reputation
Many consumers want to support businesses that are environmentally friendly, and making efforts towards sustainability. Investing in solar energy helps show your customers you’re committed to the environment and can help you build a positive public image and improve your business’ green credentials.
Solar power is a visible and measurable commitment to the environment and reducing your carbon footprint. You can promote being green on your website or social channels, and ensure your consumers you are working hard to be environmentally friendly.
This can also be viewed positively by employees and build stronger loyalty and employee retention. It also may make your business more attractive to potential future employees who value environmental responsibility.
A green reputation is an important message to share with your consumers and employees, who are becoming more concerned with the sustainability efforts of businesses they engage with.
Government support
The Australian Government is also doing its part to support businesses investing in solar power.
There are a number of Government renewable energy incentives that your business may be eligible for when investing in solar power.
For small businesses considering solar power, it is worthwhile researching the small business grants and commercial solar rebates available. The Solar for Business Program is a new initiative aimed at supporting Victorian small businesses in reducing their energy costs by investing in renewable energy. From May 2021, this rebate will cover 50 per cent of the net cost of a rooftop solar system up to the value of $3,500.
Government incentives and rebates help decrease the cost of solar equipment upfront and make it a more cost effective investment for Australian businesses.
If you’re thinking about investing in solar energy, check out our blog on the costs and considerations for solar in business for more information.