Is Solar a Good Business Move?
Are you thinking about going solar? Many business owners have been making the switch in recent times. There is growing pressure for organisations to do more to reduce their environmental impact, but this is not the only reason that you should consider solar panels for your business.
Benefits of Solar
Obviously, there are environmental and health reasons to switch to solar power. Solar power does not use fossil fuels to generate electricity and instead power from the sun, which means that it is a highly effective way to reduce your environmental impact. This can also help to improve your brand reputation, which is important in a time where consumers are becoming increasingly eco-aware.
On top of this, there are then the financial benefits to consider. Generating your own electricity allows you to make huge energy savings and many are able to eliminate their energy bill. Additionally, this will also protect you from rising energy costs (a major issue right now). This means that solar panels are a smart financial investment and allow companies to generate free electricity for many years.
Financing the Switch
Many businesses are reluctant to make the switch due to the costs of solar panel installation. While these costs can be high, most systems pay for themselves within a few years and then allow a business to make huge long term savings. In addition to this, the government has been promoting renewable energy for a long time. The Feed-in tariff scheme ended in 2019 but there may be new schemes introduced soon. Additionally, those in the public sector may be able to benefit from solar panel funding opportunities.
There is also the Smart Export Guarantee (SEG), which allows businesses to sell their unused clean electricity back to the grid – you need a smart meter to measure the power that is exported.
The costs of solar panel installation will vary based on a few factors. The cost will always be high, but you can use business loans as a way to make the costs easier to manage. How much you are able to save will also depend on various factors, so it is worth using a calculator to work this out. This will factor in information such as the amount of energy your business uses, your geographical location and the quality/number of panels that you have.
If your business is considering switching to solar then this post should prove to be useful. Although the initial cost can be high, you can make huge savings over the long term and protect yourself from rising energy costs. Additionally, you will be doing your part to protect the planet and this will also help to improve your reputation with today’s eco-conscious consumer.