Benefits of Commercial Solar Power in Australia
As a business owner, it is essential to look out for opportunities to keep costs to a minimum. Increasing efficiencies is the prerogative of all businesses, but what if it’s possible to do so while still running a sustainable business?
Installing a commercial solar PV system for your business can provide a significant advantage, including cost savings, financial stability, fulfilling renewable energy goals and enhancing your firm’s environmental image.
3 Major Reasons for Your Business to Go Solar
- Financial Stability and Cost Control
Not only are rising prices unpredictable, but there are seasonal shifts in energy prices (summer and winter months) that can make it difficult for a company to successfully control its electricity expenses. Because the sun is a 100 percent renewable source, your system will generate power exactly when you need it, reducing your dependence on the grid and supplying you with greater control and stability over your energy bills.
- Government Incentives
Businesses can install solar systems that are significantly supported under the government’s solar rebate scheme. Depending on the location of your business and the type of the system installed, the rebate might cover up to 50% of the entire cost of the system. The rebate scheme is divided into two categories:
- Small-scale Technology Certificates (STCs) – for solar panel systems ≤ 100Kw: These provide an upfront reduction of up to 50% off the original cost of a system.
- Large-scale Generation Certificates (LGCs) – for solar panel systems > 100kW: These certificates are offered to businesses considering installing a system of 200, 300 or greater kW capacity on an ongoing basis until 2030. Over the life of the system, the net present value of these LGCs might pay up to 60% of the upfront cost.
- Tax Incentives for business
Business owners can also take advantage of the tax benefits that come with installing solar panels. For everyone who qualifies for depreciation, commercial solar offers a 20-year tax advantage. For small-medium businesses, there is an accelerated depreciation for any asset purchase. It’s also possible to claim the instant asset write-off straightaway, rather than over a period of years.
For further information on how we can assist, contact Totally Independent Solar Consultants today on 0413975042