Top 4 Benefits of Solar Power for Businesses
If you’re curious about how commercial solar can help your business, factory, farm or development, take a look at the following top 4 benefits of solar power for business.
1. Long-term financial benefits from commercial solar
It is now more affordable than ever to switch to solar. Prices of solar panels and batteries in New Zealand are coming down, while the cost of power from the national grid continues to increase by almost 5% per year. You can quickly see a positive ROI with solar through ongoing savings on your power bills. And if you generate more power than you need, having a battery with your system allows you to store excess power that you produce that you can either sell back to your utility company or store for later use.
Since 2019, it has been even easier for Kiwi companies to start transitioning to a sustainable, low-carbon economy through the efforts of New Zealand Green Investment Finance (NZGIF), who are bridging the gap between green investment opportunities and capital access. As a result, there are now a number of attractive financing options, including green loans from all the major lenders, to help with the upfront costs of installing solar.
2. Energy security and independence
With a solar energy system in place for your commercial operation, you’ve got more control over your energy supply and consumption. You have greater certainty over your power supply and more independence from the national grid – two attractive benefits of managing your power through a solar panel system.
New Zealand has a fairly robust national grid system for transporting energy from power stations through to local networks. But there is always an element of volatility, as we have seen recently in the wake of a number of significant natural events (e.g. severe weather, flooding, earthquakes).
When a company can generate its power through a solar energy system, it can reduce its dependence on the national grid and the local networks, enabling uninterrupted operations. As any business owner knows, downtime from a power outage equates to financial losses.
Solar energy minimises the risk of power disruptions, allowing businesses to effectively manage their peak electricity demand, contributing to greater operational efficiency.
3. Greater efficiency and flexibility
Solar energy systems are accessible and suitable for a wide range of business premises – offices, factories, laboratories, farms, property developments, shopping malls, etc. Furthermore, we’ve seen businesses in a variety of sectors benefit from the efficiencies that solar energy offers – everywhere from agriculture to manufacturing, industrial, retail, automotive and pharmaceutical.
Solar energy systems can be designed and installed for businesses of any size, from a configuration of just five panels up to hundreds. It’s common to start with solar panels on one roof and scale up as you become more familiar with how the system works and begin to see the financial benefits for the business.
If your roof structure or location isn’t ideal for solar panels, we can design and install a ground-mounted system that works just as efficiently. Solar installations do not require a lot of space and are quiet to operate, so they run efficiently without causing disruption or taking up valuable space.
4. Improved sustainability efforts
Solar power is a renewable and sustainable energy source that helps reduce carbon dioxide (CO2) and other greenhouse gas emissions. Businesses that invest in commercial solar energy demonstrate a commitment to environmental responsibility and reducing their carbon footprint.
Research conducted by the Sustainable Business Council (published in their “In Good Company” report) reveals some interesting points that businesses need to pay attention to:
- Sustainability is a mainstream concern for 87% of New Zealanders.
- 13% said choosing a brand that operates in a sustainable manner is the most important factor in their purchase decisions, behind quality and price.
- At least 47 percent of New Zealanders say they care about sustainability when choosing a brand or product to purchase.
- 71% of New Zealanders do active research around the sustainability of a brand before purchasing.
What can we make of these findings? More and more eco-conscious New Zealanders are factoring into their purchasing decisions the sustainability initiatives of the companies they do business with or buy from. Switching to solar is a great way to demonstrate your long-term commitment to more sustainable practices.
As well as improving your sustainability efforts, introducing solar power is a great way to improve your overall corporate social responsibility (CSR) practices and enhance your company’s CSR strategy. Your customers, employees and shareholders will all appreciate the move towards more sustainable practices. This helps create a positive brand image and may lead to greater staff and customer loyalty – which all contribute positively to your bottom line.
Should your business switch to solar?
We believe that it’s not a question of if, but when. Switching to solar makes sense for most commercial operations – it’s good for business, and it’s good for the planet.