A common question that we have received from a lot of people recently is whether investing in solar power for your business is a good idea or not. If we have to answer in one word, then we will say that yes, commercial solar power is undoubtedly worth the investment.
Compare Solar Quotes has worked with several business owners all over Australia and helped them with solutions for commercial solar. In this guide, we will get into the details of why the installation of a commercial solar system is worth the money.
Recently, the world recognised solar power as the cheapest form of electricity of all time around the globe. We all are aware of the condition of the world economy right now due to the Coronavirus pandemic. Businesses are losing money and trying every way to cut off expenses in order to survive in this fast-moving world.
If we think of the installation of commercial solar as a business investment, then currently, it is the most secure investment you can make. Solar energy is the most affordable way of powering your business. Let us dive into details about commercial solar power systems.
How does Commercial Solar Power benefit businesses?
There are several ways in which a commercial solar power system benefits a business. These are:
- Reduces the Cost of Energy Bills
Businesses require a lot of electricity, and they require it 24/7. Machinery and factories will not run if there is no electricity. As the amount of energy consumption in a business is high, the cost of the electricity bill is high as well.
The cost of the electricity bill is one of the greatest expenses in a business. However, installing a commercial solar power system will significantly reduce the cost of your electricity bill. How? Let us give you an example.
Suppose you installed a solar power system that generates 20kW of energy in a day, and your business uses 40kW of energy in a day. The solar power system will cover half of your energy usage in a day. So, you will have to pay the electricity bill for the remaining 20kW of energy that the solar power system does not cover.
In this case, the monthly electricity bill of your business will reduce by 50 per cent.
- Environmentally Friendly Business
The electricity we use on a daily basis comes from the mains electricity grid. This electricity is usually generated by burning coal, oil, fossil fuel, and other non-renewable resources. The burning of these resources results in the emission of carbon dioxide and other harmful greenhouse gases that damage the environment and cause climate change.
Solar power systems generate solar power by absorbing energy from the Sun. We all know that the Sun’s energy is free and abundant so, the electricity generated from this renewable source of energy is free as well. Solar power does not harm the environment in any way. It does not release any sort of harmful gas or carbon dioxide into the environment. Solar power helps the environment by reducing our carbon footprint and the effects of climate change.
- Increases the Value of your property
Although nobody installs solar power systems, for this reason, it is still a great advantage to have. The installation of a solar power system causes the value of a property to increase. It will also increase the worth of your business as the asset becomes more valuable.
Suppose you want to wrap your business up in the building you are operating in now and move to a larger space or building. Having a solar power system installed will help you to get a greater amount of money compared to a similar building without a solar power system, and you can also sell your property faster.
- More Money to spend on your business
A great benefit of having a solar power system is that you can use the money you save on electricity bills to grow your business. If you save 50 per cent of electricity bills each month, as we discussed in the example above, you can invest this money in another sector or make a few upgrades in your business. You can also use this saved money to pay off any loans or unpaid finance that you have.
- Return on Investment
The return on investment is one of the greatest advantages of installing a solar power system. A return on investment shows that your business is gaining profit from the investment. Luckily, commercial solar power systems offer a great return on investment.
As soon as you install a commercial solar power system, you will start noticing huge savings on your electricity bill. This amount of saved money will allow you to free up all the money that you have spent in operations and energy in the past.
- Low Maintenance
A thing we definitely like about solar power systems is that it requires little to no maintenance. Solar panels are built in such a way that they can easily last for at least 25 years. Handling a business is quite a tough job, and you definitely do not want the hassle of maintaining solar power systems.
There is not much to check in a solar power system. The most you have to do is get the system checked for any sort of technical difficulty by an expert once a year. The advantage of having a system that does not require much maintenance is that you do not have to spend extra money on it after installation.
Now that we know the benefits of installing a commercial solar system, we can easily confirm that it is indeed worth the investment. Commercial solar systems not only help businesses to save money, but it also helps the environment from harmful gases and emissions. If you are looking to install a solar power system for your business, contact us here.