Businesses around the world have been and are currently in the process of making the switch to Solar. However, this also brings up a multitude of questions.
A company planning to invest in solar often has their own reservations about costs and savings. There’s no easy way out, and if your business wants to save, you have to get into some calculations.
First things first, you’ve got to weigh in the initial investments with the long-term savings you seek. A number of considerations factor in for determining the long-term Solar Cost Benefit Analysis.
In today’s blog, we’ll get into some of the things that count for Commercial Solar Installations.
Factors That Influence the Cost of Solar for Business
Commercial Solar Panel Cost essentially entails understanding the cost and savings structure available to your business. Well, the initial cuts from your Energy bills is just the tip of the iceberg.
Many business owners actually don’t realise there’s so much more to solar power for business. Considering some factors can end up saving you hundreds if not thousands of dollars.
Below-mentioned points should help you get an idea of what’s on offer when it comes to Cost of Solar Panels.
Read on to know how your company can save big when it turns eco-friendly with solar.
#1. Earn Extra with Small-Scale Renewable Energy Scheme (SRES)
Any small business installing a small-scale renewable energy system receives benefit through STCs. STCs stand for Small-Scale Technology Certificates and it has been offered by the Australian federal government.
It allows a business organization to profit from the amount of electricity their installed solar system produces. More the electricity generation, more the STCs.
Moreover, the main benefit lies in the fact that these certificates carry a value that you can later redeem.
So, this scheme basically offers you an opportunity to offset the installation costs.
To be eligible for STCs, here are the conditions you must fulfill:
- The solar system must be less than 100kW in size
- You must install approved PV panels
- The solar installer must be an approved professional
Furthermore, you can sell these certificates on your own through the STCs market or clearing house. Or, on the other hand, you can also assign them to a solar installer in exchange for a discount.
In any way, this will help ease up the Solar System Cost on installation.
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#2. Credits on Sending Back Energy to the Grid with Net Metering
Net Metering offers an opportunity to earn credits from the extra electricity your system produces.
Basically, businesses with a Solar System NSW that outputs more energy than required can export the extra power to the grid. In return, you will receive credits at the retail energy rate.
Later, these credits are applied to monthly utility bills. Over time, you can use these credits to receive energy from the grid when your system doesn’t produce enough.
Further, a net meter works by tracking the energy between a solar system and the grid. Here’s how it works to facilitate solar power for business.
When your solar panels produce more energy than you require, the surplus goes to the grid. Then, the meter runs backwards crediting you for the units supplied.
On the other hand, when your system outputs less than your requirement, you receive power from the grid. The meter runs forward and you’re charged (from your credits) for the energy you use.
#3. Savings Through Next Generation Energy Storage Grants
With Next Generation Energy Storage Grants, you save by installing a battery storage unit with a rooftop PV system. The program offers a discount on installing battery storage with a new or old solar system.
In fact, businesses are increasingly recognizing the importance of a battery storage solution.
Installing a battery along with Solar Panels NSW affords you the freedom to store and use energy as you please.
Moreover, you’re no longer dependent on external power sources to provide energy in times of need. And let’s accept it, a business often deals with emergency situations where a power outage is not an option. In this sense, a battery system can offer value to your business in the long-run.
Nevertheless, now is probably the best time to get a battery storage to enjoy these Solar Rebates. Consult your installer for comprehensive support to determine if energy storage will be a good fit for your business.
#4. Understanding Your Utility Rate Structure
Well, this one plays a huge role in making the most out of solar power for business.
Before adopting the use of solar energy, you must have a clear idea about utility rates. Further, reflect on how these rates affect the monthly energy bills of your business.
This way you can assess how much solar installation will affect the energy efficiency of your establishment.
More than likely, your utility company is charging you two ways:
- Total usage tariff based on the kWhs used. These charges will vary by the time of day.
- Demand charges which are calculated on the basis of maximum power used in any interval during the billing cycle.
Thus, knowing how these charges affect your energy bills will benefit when you switch to solar.
Only after taking these preliminary steps will you have a clear set of expectations from the solar system installation.
#5. Get Informed About the Federal and State Incentives
Last but not the least, saving on Solar Panels Cost is all about being informed beforehand. Well, with the evident climate crisis, our government seems to have a vested interest in clean energy.
As a result, federal and state governments run a number of schemes, rebates, and incentives for solar. All these could mean more savings for commercial solar panels installations.
Further, these incentives do also encourage the use of solar power for business. But as solar incentives vary with location, you’ll have to refer to local resources for current rules and rates.
Well, the best way would be to just head on over to the local state government official portals. There you can get information about solar installations and rebates offered in your area.
As clear from the above factors, there are many ways to adjust the Average Costs of Solar Panels. Though, taking advantage of these schemes is entirely up to you.
A local solar installer comes in handy during these times when you need assistance. They can help you find the best money-saving plan particular to your project.
Hire Solar Beam for Commercial Solar Services in Australia!!
Solar power for business has to meet certain standards and specifications for a hassle-free installation.
We at Solar Beam can help you sort through the incentives and rebates to get long-term ROIs along with near-term savings.
Moreover, we offer top-of-the-line solar products sourced from the best Tier-1 manufacturers. Our installations and maintenance services come in on time when solar is highly desirable among Australians.
Plus, our services are competitively priced. Experts at Solar Beam customize services keeping your budget and requirements in consideration.
Value and quality resides at the core of what we do. Thereby, we offer the following set of services to our clients:
- Branded solar panels, inverters, and battery solutions
- CEC accredited installers for high-standard installations
- Full after-sales support within 48 hours
- Performance warranty of 25-30 years
- 10-12 years manufacturer’s warranty on all PV installations
- Different solar system sizes to suit unique needs and demands
- Special deals on solar system packages to make solar accessible to everyone
Get in touch with the Best Solar Panel Installer NSW today to receive comprehensive care and support from certified installers.
Request a free quote from us right away and our solar representatives will get in touch with you.
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