Solar cells have come a long way from just powering a calculator. Today, solar technology has evolved to be much more efficient and powerful and a viable source of alternative energy. Solar power plants are operating out of areas like the Mojave Desert in Nevada while Australian households and businesses generate an estimated 300 MW of solar power through their own solar installations.

For business owners, investing in solar could be a great way reduce their energy bills as well as secure their businesses’ financial future. There are a number of solar technologies that are great options for business:

• Solar hot water systems – water heating accounts for about 25% of the energy consumption for households and can be a significant energy expense if your business uses a lot of hot water in its operations. Upgrading to a solar hot water system can deliver long term savings. There are a few types of solar systems to consider - a rooftop solar hot water system, the highly efficient gas boosted solar hot water system or a heat pump system.
• Solar panels and photovoltaic systems – solar panels are a great way for business owners to cut down on their electricity expenditure, and depending on the size of your system and its location, it could even generate a small source of income. The Australian Government offers a number of rebate schemes to incentivise businesses to invest in solar installations while most states will also provide a feed-in tariff system where your business will receive income for the electricity your solar panel system will generate for the main electricity grid.
• Solar farms – for small rural businesses, sunshine and space are abundant, so many farmers and rural property owners are turning their unused land into profitable solar farm businesses. These arrangements require little maintenance and can be a handy little earner alongside your regular operations.

In addition to government support via rebates, many businesses can find solar finance programs that are specifically designed to support business investments into solar panel installations and other sustainable initiatives. This makes solar an even smarter investment for businesses looking to reduce their energy bills and cut down their operational costs in the long term.

Will you make a solar investment in the new year? Robbo
robbo@flexigroup.com.au