As businesses everywhere search for smarter ways to operate, outside of being low maintenance and a reliable source of energy production, commercial solar hosts a raft of benefits.
Think of it as figuratively hitting three birds with one stone: slashing those rising energy bills, giving your brand a relevant, green edge, and doing right by the planet.
These are the benefits that prove going solar can be a win-win-win for your business.
Financial Wins
We are all affected by Australia’s escalating energy prices, and solar power systems are a great way to combat that. Generating electricity through solar panels reduces dependence on grid-supplied energy, and saves money. It can also stabilise business costs by ensuring more efficient power distribution through the day.
While there aren’t any dedicated Tasmanian rebates, the Australian government offers several incentives for commercial solar uptake:
● Small-scale Technology Certificates (STCs) – While not technically a rebate, they reduce the installation costs of solar systems for businesses. The number of STCs granted depends on the system's size. For instance, a 6.6kW solar system in 2023 would qualify for about 100 STCs, worth around $35 each, amounting to a total rebate of approximately $3,500.
● Large-scale Generation Certificates (LGCs) – In the Large-scale Renewable Energy Target (LRET), renewable energy power stations generate Large-scale Generation Certificates (LGCs), which are recorded in the online Renewable Energy Certificate (REC) Registry. The generators then sell their excess LGCs to other businesses and individuals who want to offset their own carbon footprint. Each LGC represents one megawatt-hour of renewable electricity produced above the baseline level of the power station, which can reduce the upfront cost of solar PV systems by up to 35%.
Feed-in Tariffs (FiTs) offer credits for excess power generated by the business’s solar system that are fed back into the grid, which further reduces electricity costs.
The reliability and low maintenance of solar systems add to their appeal as a smart long-term investment. They not only reduce operational costs but also offer significant returns through long-term savings and quick payback periods.
Potential tax credits and incentives can also be reinvested back into the business, enhancing ROI.
Installing solar panels can increase the value of commercial property. These properties are attractive to potential renters or buyers who are environmentally conscious and value reduced energy costs.
Reputation and Market Benefits
Investing in commercial solar power crafts a positive brand image. Companies demonstrating sustainable practices are often viewed as progressive, responsible, and socially conscious. Consumers are increasingly driven to engage with eco-friendly products and services.
Adopting solar power will position you as a market leader, and the commitment to sustainability offers a competitive advantage over competition.
Sustainability and solar power uptake enables unique marketing and PR opportunities. Leveraging commitment to sustainability in marketing materials can open up new markets and customer bases among environmentally-conscious consumers.
Employees and talent in the workforce (think millennials and younger generations) who prioritise environmental responsibility are increasingly attracted to employers with a sustainability focus.
Adopting solar energy aligns with Corporate Social Responsibility (CSR) goals, which can be important for not only customers and shareholders, but for attracting investors. Environmental and social impact is an increasing evaluation for investment in business.
Tech and Operational Advantages
As the focus for sustainability increases by governments globally, getting in on the ground floor will make it easier to comply with current and future environmental regulations and standards. You’ll save time and money meeting compliance moving forward.
Imagine not being at the mercy of market volatility and grid-related problems. In areas prone to power outages and inconsistent grid supply, generating your own energy offers independence from unreliable and costly systems.
Solar tech is getting smarter and better, and offers increased efficiency and more options tailored to businesses. Investment in solar means being able to benefit from having the most efficient and effective systems.
Integration with energy storage systems like batteries, now or in future, can further reduce reliance on the grid, and provide back power during outages.
Moving away from fossil fuels, and embracing solar energy significantly reduces a business’s carbon footprint, which means cleaner air and reduced greenhouse gas emissions. This supports the Tasmanian – and Australian – shift toward a low-carbon economy and tackling climate change.
Combatting climate change, by contributing to broader renewable energy targets set by governments and international bodies, is critical.
Investing in solar often involves partnering with local solar providers and contractors like us, and fosters community relations and the local economy. You are contributing to job creation in the community, and the region.
Going solar positively impacts the triple bottom line: people, planet, and profit.
It can ensure your business is environmentally friendly, socially responsible, and economically viable, with an impact on all stakeholders. Additionally, investing in solar power is a multi-faceted approach for forward-thinking businesses for growth and sustainability.
If you’re thinking about commercial solar, talk to our expert team at Sackett about your sustainable investment options.
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Unit 4/5 Runway Place Cambridge Tasmania Australia 7170
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