Australia’s Commercial Solar Boom has arrived – here’s why!
Business uptake on installing commercial solar has turned a corner and is becoming a smart move for Australian businesses.
Solar is booming in Australia with records being smashed for PV (photovoltaic) installations, year on year. This continued growth is now being driven by the commercial sector which was previously restricted by cost due to the size of these installations. The commercial sector is growing at an accelerated rate and shows no sign of slowing.
So why is commercial solar now becoming a viable and much needed energy solution?
What we’ve seen in the industry to create the demand has been falling solar system prices, hitting the sweet spot and making it a great financial investment for businesses wanting to save on electricity costs. Solar power systems are now, on average, half the price they were 5 years ago.
The other key driver has been the unrelenting rise in electricity prices which continue to climb. There is no denying that Australia’s energy crisis is a hot topic across the news and a challenge for our forever changing Government, that promises to create change that isn’t delivered. Recent reports have shown a 12 percent hike in electricity costs in 2018, with no relief in sight.
Future proofing your business from rising power costs and ensuring your business remains profitable has more business owners investing in commercial solar systems than ever before. The electricity bill has become an alarming business expense and thankfully, commercial solar power is a good solution.
Government subsidies are still available for both residential and commercial solar installations, making an investment very attractive. Depending on the size of your commercial solar system, the time of installation and location; the current subsidies on offer vary from $6000 for a 10 kW system to $60,000 for a 100 kW system.
The return on investment for a commercial solar system will depend on the size of your solar installation, electricity consumption and your current electricity rates from your provider. Payback periods for commercial solar can be around 3-6 years. This is a sound investment that will shield your business from further electricity price rises which are no doubt on the horizon. Protect your profit margin today.
Talk to Wattsup Solar about your commercial solar needs and how we can help you save money on your power costs.