Electricity costs are a primary expense source in any small or large business operating today. In addition, rising costs of energy production are also driving up utility prices.
Photo by Mischa Frank on Unsplash
When you pair these adversities with the inability to control or predict electricity rate fluctuations, you arrive at the formula that significantly negatively impacts a company’s profit margins. Consequently, to mitigate such issues, it is now part of everyday business practice to explore the adaptation of alternative energy sources.
One of the primary alternatives businesses turn to is renewables, particularly solar panel installations. Today, numerous Australian households and businesses are making a serious effort to acquire and install the best solar panel systems available. Additionally, the latest research figures show that more than 21 million homes are using solar power- a number that continues to grow every year. This upward trend also extends to businesses and industries. Consequently, solar energy is becoming the prime renewable and alternative energy source countrywide.
With more businesses in Australia adopting the use of solar energy, the demand for solar panel systems continues to increase. As a result, their prices are recording a corresponding drop. This movement means that solar power is becoming increasingly accessible; thus, more people can enjoy its benefits, including you and your business.
Therefore, if you have been looking to justify switching to renewable energy, here are some reasons why every industry should shift to solar.
Cut down business overhead costs
One of the primary expense generators in any business is overhead costs. These costs include expenses beyond employee wages and operational materials -for example, security, supplies, property maintenance and insurance. Therefore, cutting overhead costs is a primary concern since they are a significant weight. The best way to begin doing so is finding and reducing ‘fluid expenses’ that you control, like electricity.
Reviews from businesses that have successfully migrated to solar energy use report that the switch facilitated an average cost reduction benefit of up to three quarters. Such savings provide not only a significant boost to the business but also make the company more effective and ‘attractive’ in the market. So, solar power presents monetary benefits that an industry cannot afford to ignore.
It has longevity and sustainability effects
Renewable energy, including solar power, are highly sustainable energy sources. Reputable solar installation companies guarantee that well-maintained solar panels have an operational lifespan of more than a decade. Therefore, solar panels are highly beneficial additions that allow you to enjoy the advantages of your investment long after they have been installed.
Using commercial energy supply leaves you beholden to power companies whose business practices have a cascading effect on your company’s bottom line. As a result, you are left to manage only those aspects of your energy use that you can control, which may not always shield you from downline mishaps.
On the other hand, solar panel installations allow you to disconnect from the grid. Consequently, you gain full control over your business’ energy sourcing, conversion and use. This shift means your company can operate more independently, making changes it deems necessary without considering outside entities.
Conversely, remaining connected to the grid while using solar energy can be modestly profitable. This boon occurs through taking advantage of rebates offered to those who feed the excess electricity they generate from solar panels back into the commercial supply for redistribution.
In conclusion, the benefits of using solar energy for your business are significant and long-lasting. So your next step should be choosing the right solar installation company to help you move your business to a more sustainable, profitable and environmentally friendly model.