As businesses think about taking the step towards switching to solar, many business owners have misconceptions around the topic. Below we have listed a few of the most common ones and our aim is to help add some clarity around them.
Misconception one: It’s all about the environment
Yes, renewable energy is better for the environment and there is science to support this, but, investing in commercial solar is not all about the environment. Switching a business over to using renewable energy is good for business and makes good business sense.
Commercial solar isn’t just for environmentally conscious businesses, solar for business is a great opportunity for any business to save money and reap the financial benefits.
Misconception two: Solar is expensive
One of the biggest misconceptions is the belief that a solar PV system for a business is going to cost a fortune. While it’s true an initial investment is required, the capital cost involved is just that – an investment. Wouldn’t it be better to approach solar for business from the mindset of ‘How much money will my business save and over what time-period?’ as well as ‘What is the projected return on investment?’ this will help us see it as more of an opportunity, rather than a financial threat.
Misconception three: It takes ages to yield a return
An investment in solar PV brings returns, so instead of viewing it as an outgoing cost you would rather not take on right now, looking at it as a positive cash flow investment is a much more logical viewpoint. In our experience, we can confirm that commercial solar offers the highest yielding return on investment. Many businesses we work with are cash flow positive within the first year, sometimes even on the day of installation and many of them have a payback of around 3-4 years. And with competitive finance options available, investing in solar does not even have to be an out of pocket expense.
So, how much will a solar investment earn?
Return on Investment is key when deciding how much and with whom to invest your money. An average stock market returns over the last 10 years circa 8% and in the current climate it is a high risk one at that. The average superannuation returns circa 5.6% and bank savings interest is currently circa 1-2%
A Correctly sized solar system will return up to 300% over 10 years* (ROI may vary slightly depending on power price charges). Solar for your business isn’t just about free electricity, it is also a smart investment decision with return on investment that is very hard to beat. Click here to get a projected ROI on a solar PV system for your business.
Misconception four: it won’t impact running costs too much
The next big misconception is that the operational costs won’t be impacted so much and that it will take a very long time to see the difference. This is not true. With our in-depth data models, we can prove to you what your projected savings will be in the short to long-term. Let us carry out an initial free assessment so you can see how much a system for your business will cost and what you will save.
Misconception five: solar is more energy efficient
Switching over to solar doesn’t mean your business will consume less energy, it simply means that you will be using cleaner energy. At SmartConsult we can assist with energy efficient solutions that look at the entire building, how you operate and your heating and cooling systems. Ask us about an in-depth feasibility report for your business and a tailored energy efficient solution that may have an immediate financial impact. Call SmartConsult on 1300 344 388 or click here to contact us today.