Growing Demand for Solar in Australia
Over the past decade, solar power has become one of the fastest growing renewable energy sectors in the world, and countries like Australia are gradually becoming a hub. Due to its proximity to the equator, Australia receives abundant sunlight, and so, has a greater potential to generate enough solar energy that can power the nation.
Furthermore, increasing awareness around greener alternatives in a bid to fight the adverse effects of climate change and global warming are pushing the shift towards renewable and sustainable sources of energy like solar.
Perfect Market Scenario for Going Solar
Right now, the market for solar is at its prime, making it the perfect choice for both individuals and businesses across Australia. According to a report, Australia’s solar capacity is projected to reach 80 GW by 2030, mostly driven by rooftop installations, which as the report states, “exceeds the global average”.
The increasing adoption of solar among Australian businesses is also leading to the industry’s growth. There are several benefits of solar energy in Australia, and businesspersons throughout the nation are quickly figuring this out.
Despite the on-going pandemic, businesses using solar energy stand to benefit the most in the long run than those that don’t since solar is a long-term investment, is reliable, and reduces operational costs, among other various benefits.
Reasons Why Businesses Should Choose Solar
Going solar now is not just in the best interest of a business, but also its stakeholders. In fact, 2022 is the best time to choose solar, and here’s why!
Value of STCs decreasing annually:
Small-scale Technology Certificates (STCs) are a government incentive that reduce the upfront cost of a solar PV installation by around 30-35% for system sizes up to 100kW.
According to Clean Energy Regulator, STCs ‘must be created within 12 months of the system being installed to be valid’. The regulatory body also announced that the deeming period for systems installed in 2022 will be reduced to a maximum of 9 years, and will decline with each successive year till the scheme phases out at the end of 2030.
This basically means that the number of certificates that can be created for an eligible system will reduce; so it’s best to invest in solar energy for business as soon as possible to reap such benefits!
System costs change over the years:
While overall solar system costs are currently low, equipment costs can increase in future depending on various factors like the manufacturer or country of origin. Therefore, there’s no time like the present to choose solar for business!
Limited Government Rebates for Businesses:
Another important reason why businesses should go solar is the fact that the value of most Government rebates that allow reduction in the cost of a solar system is limited.
Victorian Solar Rebate – Businesses looking for solar and based in Victoria can avail government benefits in the form of solar rebates for business – $3500. The updated rebate value will be up to $1,750 following the allocation of the first 5,000 rebates. Thus, make the most of existing rebates by investing in solar and upgrading business operations.
Limited grid capacity:
Energy requirements are expected to increase with each successive year, which means increasing demand on the grid to fulfil electricity needs of both individuals and businesses. However, choosing solar for business will not only make it energy independent, but also feed excess power back into the grid.
Monetise the solar power you generate:
Feed-in tariffs (FiTs) refer to the amount businesspersons can get paid when the excess solar power generated is fed back into the grid. These are credited in the electricity bill. To make the most of a commercial solar system, always consider CEC-approved solar retailers like GEE Energy, who can design systems to minimise the amount in electricity bills by adjusting the exported power. Business owners should be able to negotiate a rate with their electricity retailer when connecting their system to the grid. Tariffs vary between states and territories.
When choosing solar for business, business owners can also contribute to the local economy by creating new jobs in the region. Solar retailers like GEE Energy only work with CEC-accredited local installers and technicians who are responsible for installing the solar system on a business property. Apart from that, businesses can also fulfil their social responsibility by giving a chance to those who might have faced a difficult time during the pandemic, and want to get back on their feet in 2022.
Going solar makes a business future-proof and safeguards it against almost any unpredictable circumstance. Solar is considered a long-term investment that can sustain, strengthen, and secure a business in the long run from various challenges.
Flexible payment terms and options:
Flexible payment terms are a terrific option to help spread repayments over time and enable businesspersons to pay off the system with their electricity bill savings.
Another great reason for businesses to go solar lies in the fact that it is an environment-friendly asset. As a business owner, you’ll have the peace of mind knowing that the company is doing its part for the environment by generating its own emission-free electricity.
Most Australian consumers these days are now becoming more focused upon purchasing from businesses that take steps to demonstrate their corporate social responsibility towards people, communities, and the planet. Solar will not only improve brand image, but also give businesses a green reputation for being environment-conscious. In a competitive market, become the obvious choice for customers over those who still use traditional sources of electricity that cause pollution.
We understand that any decision businesspersons take for the future of their company is done with utmost consideration, and we agree that whatever one invest towards its growth should provide long-term benefits. Moreover, during unpredictable times, it becomes especially important to prepare a business so it can withstand such changes. Therefore, there’s no time like the present to choose solar power; so go ahead and make 2022 the year of solar for businesses!
About GEE Energy
GEE Energy is a vertically integrated energy company specialising in commercial and industrial solar installations (50-1,000kW). Our quality of work, attention to detail, and safety performance have resulted in a blue-chip reputation for safe, reliable, professional, and cost-effective solar investments.
Connect with our experts for a business solar consultation. Call us on 1300 707 042 or send us an email via [email protected]