Is the rising cost of electricity affecting your company’s bottom line? Many businesses are switching to solar power to help increase their business profits.
In this article, we’ll take a detailed look at how installing commercial solar panels can make your business more profitable.
10 Ways Commercial Solar Can Increase Your Business Profits
1. Lower Electricity Bills
Did you know that installing solar panels can cut your energy costs by over 30% every month? Commercial solar panels can reduce monthly electricity costs and save your company a significant amount of money. Reduced operating costs translate directly to higher profits for your company.
For businesses that consume most of their energy during peak hours, commercial solar panels can be especially beneficial. For instance, businesses with 9 to 5 operating periods, such as factories or supermarkets, can harness the full potential of a commercial solar system and enjoy a shorter return on investment.
2. Free Up Company Funds
The money you save on electricity costs when switching to commercial solar frees up funds to develop your business. Every month, the money you save with lower energy bills can be invested directly back into your business.
Whether you direct funds into marketing or sales, the money saved by switching to solar can help expand your business and boost profits. You may also use the money saved to pay off loans or make other energy-saving business upgrades.
3. Reduce Overhead Business Costs
Overhead costs make the difference between a business profiting or losing. Energy bills are a significant cost for companies every month.
By installing a commercial solar system, companies can significantly lower their electricity bills each month and enjoy reduced overhead costs. This increases a company’s profit margin, especially once the solar system is paid off.
If you would like help calculating how many years it will take to pay off a commercial solar system and how much money it can save you each month, please contact us and we will help you determine if solar panels are right for your business.
4. Sell Excess Energy
A larger commercial solar system gives companies the chance to sell excess power back to the grid. This allows businesses to save and make money from solar power.
Selling excess energy back to the grid also helps supply your community with clean, renewable energy.
5. Government Incentives, Solar Rebates, and Tax Credits
The Australian government recognizes the benefits of commercial solar for the local economy and the environment. Companies that install commercial solar systems are often eligible for a range of government incentives, solar rebates, and tax write-offs. These financial discounts can help offset the cost of installation and improve your return on investment.
If you’d like to learn more about the specific government incentives and rebates your company may qualify for, please contact us and we would be happy to help.
6. Increased Financial Confidence in the Future
It is impossible to know how much electricity will cost a decade from now, but a commercial solar system can help your company predict future energy costs. With commercial solar, companies can set a precise budget and worry less about inflation and spikes in energy prices.
7. Increased Property Value
Another benefit of commercial solar for business profits is increased property value. Should you ever sell your property, buyers and investors show preference toward properties with commercial solar panels. Buyers are drawn to the self-sufficient, environmentally-friendly nature of solar panels.
8. Excellent Return on Investment
A return on investment is one of the most important factors when it comes to profit margins. Commercial solar systems provide an impressive return on investment.
Along with initial reductions in your energy bills, the commercial solar system will generate savings once it is paid off.
9. Increased Competitive Edge
Going solar makes your company more competitive, both now and in the future. By installing a commercial solar system, your business will benefit from immediate energy savings, higher profits, and a significant competitive advantage.
10. Improved Corporate Image
More buyers are choosing to support environmentally-friendly companies. Installing commercial solar panels for your business can improve your public image and potentially draw in more customers.
Related Reading: How Efficient Are Commercial Solar Panels?
Other Benefits of Commercial Solar Installation
Along with the potential for increased profits, other benefits of commercial solar panels include:
- The reduced carbon footprint for your business (great for setting an environmentally-friendly example for other local businesses to follow)
- A reliable energy supply of clean, renewable energy
- Excellent peace of mind for businesses that require a consistent power source such as cold storage facilities
- Minimal maintenance and a long lifespan
- Support the local economy by generating new jobs and increasing the demand for local labour
Related Reading: How Does Solar Power Work?
Commercial Solar Installation in Western Australia
With all the benefits of commercial solar, more and more businesses are choosing to harness the energy of the sun to help increase their profits. Commercial solar panels can lower your monthly electricity bills, decrease the amount of energy you need from the electrical grid, and increase your company’s profits. You’ll also enjoy renewable, clean energy that is good for the environment.
Want to learn more about commercial solar systems and how they can benefit your business? Contact us with any questions or for a free site assessment.
At Powertex Advantage, our solar experts have been designing and installing off-grid, residential, and commercial solar systems for over a decade. We offer custom solar solutions for all your energy needs and would be happy to answer any of your questions and help you determine if solar power is right for your business.