Thinking about taking your business solar? From energy savings, increased profits, tax deductions, improved property value and sustainability, there’s plenty of advantages. Let’s explore these advantages in more detail.
Energy savings and the bottom line
When it comes to operating a business, expenses (rather, reducing them) are everything. So it goes without saying, that one of the most significant advantages of a commercial solar system, is the reduction in energy costs. In going solar, businesses are able to reduce their dependence on the grid and therefore lower their energy bills. In turn, positively assisting the businesses bottom line. With government rebates and incentives, various interest-free finance options and a competitive market, it’s also never been more affordable for businesses to install solar panels. Add to that minimal maintenance and a long lifespan, and commercial solar systems are also a cost-effective energy solution in the long run too.
Who doesn’t love an instant asset write-off with the Australian Taxation Office (ATO)?! Installing a commercial solar system may make your business eligible for tax incentives through the ATO. For example, small businesses can immediately deduct the cost of new assets, including solar systems, in their tax returns. With a tax deduction for the cost of purchasing and installing a commercial solar system, businesses can enjoy reduced upfront costs of installation.
Return on investment
Rebates, incentives and write-offs aside, after the initial cost of the commercial solar system is realised, the return on investment (ROI) timeline is usually short. Depending on the quality, size and location of the solar system, businesses should be able to recoup their investment within a few years, and then enjoy cost savings across the many years provided by the lifespan of the system.
Increased property value
A commercial solar system is considered a valuable business asset, so it shouldn’t come as a surprise that commercial solar systems bolster the value of a property. As potential buyers and leaseholders view commercial solar systems as attractive, it could provide an ROI in the form of increased property value, should the business look to sell or lease in the future. While this blog was written through a residential lens, if you’re hoping to understand more about how solar can impact a property value, read our blog here.
Keep your business on track, even during power outages
Power outages and emergencies happen. And they can be costly for businesses that rely on electricity to operate (aka all businesses these days!). A commercial solar system can not only ensure peace of mind for such times, but also ensure business operations are kept on track, minimising financial losses.
Commitment to sustainability
Consumers are driving companies and businesses to be more environmentally responsible, and therefore businesses are expected to demonstrate their own commitment to sustainability. Commercial solar systems form an integral part in demonstrating a commitment to sustainability, while reducing carbon footprint. In essence, this helps to attract eco-conscious consumers and therefore assists in market reach and revenue too.
Always do your own up-to-date research into rebates, incentives, write-offs and property valuations. Engage with trusted advisors in each field, and reach out to a reputable solar company to design and maximise your commercial solar system.
With everything from savings, profits, tax deductions, property value and sustainability, get your commercial solar journey underway today. We can help you! Call us on 1300 4 SOLAR.