Installing a commercial solar system for your business provides a significant return on the investment. Energy prices in Australia continue to rise, forcing commercial businesses to find new and innovative ways to cut expenses.
Adding solar panels is an affordable option when taking advantage of government incentives. Federal and state governments offer Renewable Energy Target rebates for commercial businesses considering solar. These schemes lower the cost of commercial solar installation and allow commercial businesses to enjoy an additional revenue stream.
Since 2010, the cost of installing solar panels has dropped considerably in Australia. On average, the expected price range for installing a 100kW commercial solar PV system is between AUD13,000 and AUD20,000. The total cost is dependent on the number of solar panels installed. A 100kW system has the potential to cover up to 30 per cent of annual energy consumption for commercial businesses with high energy usage.
Commercial solar systems that generate more power than the business needs may qualify for feed-in tariffs. These reimbursements apply to businesses feeding their extra power back into the power grid. Arise Solar can help determine if your business qualifies.
Whilst the government already had in place several schemes to entice commercial property owners into considering solar systems, a recent economic stimulus package to combat the effects of the COVID-19 pandemic on the economy includes additional perks. Among the measures is an increase in the instant asset write-off threshold from $30,000 to $150,000. Companies can now write off solar systems under the $150,000 limit instantly, eliminating the need to have cash on hand before solar power conversion commences.
Commercial businesses already using solar do not have to miss out. Expansion of their existing system or purchasing a solar battery is a great way to maximise savings under these additional incentives.
Benefits of Solar
One of the biggest benefits of transitioning to solar power is that it is an affordable alternative that can reduce electricity costs. Rising costs for electricity is a concern for businesses and industries in Queensland, New South Wales, and South Australia.
In addition to saving money, upgrading to a commercial solar system increases commercial property value. Commercial buildings with solar panels tend to have lower vacancy rates and higher rents.
Commercial Solar Experts
Arise Solar’s experts can ensure your commercial property meets the requirements for reimbursement and benefits under these incentive programs. Contact us today for a free consultation on maximising the benefits of commercial solar systems for your business.