The way business owners think about solar panels has changed. Less than ten years ago, businesses were concerned about whether solar power would provide them with the energy they need.
Now, that question is almost never asked, because it’s been answered.
Two of the biggest companies in the world, Google and Walmart, have installed dozens of solar plants at their headquarters. Solar energy has been shown to work well for big business.
Now small businesses want to know how solar panels can provide them with a strong ROI.
It’s said money doesn’t grow on trees, but in the case of solar panels, it does fall from the sky.
Commercial Solar Panels Decrease Energy Costs
Solar panels cut down on the amount of energy you pay for, because all day every day, you’re producing your own.
There is a common misconception that solar panels only work when the sun is blaring but this isn’t the case. Even on an average day in the depths of a British Winter, solar panels produce enough energy.
When you generate your own solar power, you only have to switch to the National Grid at night. With most small businesses using less power at night, this can offer huge savings.
More than that, small business owners protect themselves from losses due to energy price increases. As the cost of using the National Grid rises, solar panels save a small business owner more and more money.
Generate a Passive Income
Feed-in tariffs (FiT) offer a big ROI for business owners who want to install solar panels. FiT is a government scheme which intends to encourage people to adopt low-carbon and renewable energy technologies, by paying them to do so.
Under FiT, every unit of energy your solar PV system generates is paid for whether you use that energy or not, and you’re paid for any energy your system produces that goes back into the national grid.
This allows small business owners to generate a passive income for twenty years, guaranteed by the UK government. As if it couldn’t get any better, all the money earnt under FiT is completely tax free.
The Cost of Installation Has Decreased
Many small business owners were reluctant to switch to solar panels because of the high initial outlay. Since the launch of the FiT scheme, the cost of installation has decreased dramatically, which means business owners will see their solar panels generate returns faster now than at any other point.
There are plenty of subsidies available to those who are looking to install commercial solar panels, because the government wants renewable energy to work for individuals and businesses. This also means the return on investment for solar panel technologies is at a high.
Helping the Environment Helps Your Business
If businesses are looking for sustainable and long-term growth, thinking conscientiously about the environment is crucial. With global temperatures rising, the rising costs of food and energy are going to have a massive impact on how consumers spend their money.
Switching to sustainable energy now has a positive impact on the ecosystem, which protects the pockets of consumers of your products for years to come. Decreased outgoings for energy means greater savings, and a show of environmental care can increase your prestige in a crowded market.
The Return on Investment
Solar panels cost very little to maintain once they’re installed and can last up to thirty years. The estimated savings for residential properties over a twenty-year period is around £9,000, and for commercial properties that figure extends even higher; a small business can look to save £16,000.
No planning permission is required for businesses to install solar panels, saving you time which can save you money. Low installation costs, a decrease in energy outgoings and the generation of a passive income means the ROI of solar panels is higher now than at any other point. Solar energy works wonders for your business and the planet.