As a business owner, you are faced with many decisions. You must determine how to keep your operating expenses low, your profit margins high and your clients happy and loyal.
Electricity is one of the major expenses of running a business, but by switching to solar power, you can save money and improve your revenue, resulting in a more profitable business. When you’re starting a new business, choosing solar power can give you a competitive advantage. If you’re concerned about your existing business’ high electric bill, or if you want to reinvent your company with a greener image, it may be time to make the change.
1. Save With Solar
When you invest in high-quality solar panels, you can set yourself up for major long-term savings, especially if you choose a reputable brand that offers a good warranty. Solar electricity costs less than fossil fuel electricity, and the price remains consistent over time; with solar, fluctuating fuel prices are no longer a concern.
Your business may also be eligible to receive a feed-in tariff; if you produce more electricity than you consume, the surplus electricity will return to the grid in exchange for a credit. This can help offset your electricity expenses even further. With lower and more predictable operating costs, you can achieve a more consistent profit margin for your business.
2. Pass the Savings on to Your Clients
When your business experiences an unexpected increase in operating expenses, such as a change in the price of electricity, you may need to raise your prices to compensate for the change. This can be frustrating for your clients, and it may damage their trust in your business. When you invest in solar energy, you can avoid the impact of these changes and keep your pricing consistent for your clients. This can give your business an advantage over competitors that rely completely on the electrical grid for their power.
3. Gain a Green Reputation
Solar panels generate more than electricity; they can also generate good publicity! Sustainability is a growing concern, and clients typically prefer to do business with a company whose values they share. Including solar electricity in your business plan demonstrates that you care about the environment and are willing to invest in renewable energy. Whether you’re starting a new business or converting an existing business to solar, your choice of renewable energy will reflect positively on your company.
Similarly, most people prefer to work for an employer whose ethics are in line with their own. A reputation for being environmentally responsible can make your company more attractive to potential employees.
4. Receive Government Incentives
The Australian government offers incentives for businesses to change over to renewable energy sources. You may receive a tax credit, or you may be able to get help paying for your solar panels. Your solar power system may be eligible for Small-scale Technology Certificates or Large-scale Generation Certificates, rebates that cover part of the cost of the equipment. Some solar companies will offer a discount upfront in lieu of the rebate; you will sign over the certificates to the installer and receive the discount without having to wait for the rebate.
Your state may offer additional incentives, so be sure to do your research. Government incentives can help reduce the initial cost of switching to solar so you can enjoy the savings right away.
5. Help the Planet
Choosing solar power is both financially responsible and environmentally responsible. As your business grows and prospers, its carbon footprint will grow as well, but with solar power, you can reduce your company’s impact on the environment without reducing your profit margin. Consult a solar energy provider to find out how switching to solar power can help you shrink your carbon footprint and grow your business.