BENEFITS OF SOLAR POWER FOR BUSINESS

Electricity prices in Australia have more than doubled in the last 10 years, making them among the world’s highest. Not only that, but the increases have come at an unprecedented rate that’s disproportionate to CPI and wages.

In most cases, by installing a solar system on your commercial building, you’ll immediately see a reduction on your electricity bill as you have reduced your business’ reliance on the grid. Over time, your system can pay for itself through these savings.

In addition, you’ll be making an investment in future-proofing your business against the continued rise and volatility of grid electricity prices. Recent research from the Australian Energy Regulator projects that energy consumers will increasingly rely on self-generated and stored energy over the coming years. This suggests that the process of stepping away from reliance on the grid will be supported by a growing solar industry that is not affected by the unpredictable changes in fossil fuel markets.

As a bonus, you can be confident your investment will stand the test of time. Solar panels are designed to withstand exposure to the elements, despite the fragile nature of their individual photovoltaic cells. These are encased and protected by specialised, highly tempered glass, and framed with non-corrosive aluminium – an extremely sturdy structure. Tier 1 solar panels come with a 12 year manufacturer’s warranty and even a 25 year performance warranty.

A less tangible but nonetheless valuable return on investing in solar energy are the PR benefits that this can bring to your business. Solar power systems provide a measurable contribution to the global reduction of CO2 in the atmosphere, which businesses can promote in their corporate marketing material and communications. In turn, this can increase the public image of your business as socially responsible, environmentally aware, progressive and future-focused.

Research from Sustainability Victoria indicates that 78% of Victorians believe climate change is ‘an issue that requires urgent action’, and 73% prefer to buy from businesses that show t| hey care about climate change. Internationally, a recent study shows that a third of consumers are now making buying decisions based on the environmental and social credentials of brands, while another global study suggests that this rate is much higher for millennials, an increasingly important consumer group.

A further consideration, particularly for businesses situated in high-visibility buildings, is that visible solar panels may improve public image by directly displaying this message within a streetscape.

Many businesses are finding ways to apply their green credentials to their competitive advantage when responding to tenders and bidding for contracts. This can be supported through various industry-specific sustainability accreditation and certification programs – see, for example, the Victorian state government’s suggestions for green credential validation in the tourism industry.