When you are looking to set up a business, whether it is via a storefront or online, you will have a lot of costs to think about that go beyond marketing and purchasing stock, such as premises, technology, and utility costs.
One of the main costs to most businesses is power. More specifically, the cost of electricity, water, and gas that is needed to keep a shop, warehouse, or online business functioning as it needs to. Indeed, many business owners and managers in the last 5 years have admitted to cutting back on the amount of water and electricity they use due to concerns over rising costs.
This can lead many businesses to look for a simple solution to this problem, and the answer is green energy or using solar panels. Solar panels may have a large upfront cost that can deter many business owners from opting for them. Still, the benefits of investing in this green alternative are vast, and here, the key benefits of powering a business with solar panels will be explored in more detail. Enjoy!
- Cost Savings
A key advantage of using solar panels to power your business is that it has the highest potential for saving your business money. Indeed, the initial installation costs of solar panels are high, but they have a very low operating cost and maintenance. So, you will be saving a lot of money on electricity bills as well as being able to generate your own energy. Another advantage related to costs is that you will be able to sell excess energy that has been stored in the panels back to the grid. If you think that sounds like a great option, then look into having Givenergy battery storage options fitted on your commercial property, as they make the process of keeping track of the energy you make easier.
- It is Sustainable
A survey that was conducted in 2022 found that over 80% of consumers would be more likely to choose a business or a product if they knew that it operated on green, sustainable energy. It is easy to see why, as environmental concerns are now one of the biggest issues for many people, with anxiety around renewable energy growing every day. So, if you invest in solar panels, you can say with complete honesty in your store or on your website that you use green energy and are working towards completely sustainable energy. This will help enhance your PR in the eyes of your customers and allow you to feel good about your company.
As mentioned earlier, one of the biggest concerns many business owners have is the cost of energy, particularly electricity and water. If you have solar panels installed, you can generate your own electricity on-site, which will stop you from needing to rely on other energy sources, which are expensive and unreliable. It also means that if there is a power outage in your area, your store will not be affected, allowing you to stay open and boost sales!
- Government Incentives
Most governments in the US, the UK, and other parts of the world offer incentives and tax benefits to businesses committed to renewable energy, including solar power. When it comes to installation, these can reduce costs and will also help provide your business with ongoing tax benefits.
- Return on Investment
If you opt to have solar panels fitted to your business, you will be likely to see an increase in the investment long-term. Solar panels last over 25 years or more, allowing businesses to recoup their investment via energy savings and the revenue from selling their excess power back to the grid each year or month. Also, should you need to sell your business, rent out space, or retire, you will find that a commercial property that is powered by solar panels will fetch a higher value than one that relies on traditional energy options. This is, of course, assuming that the solar panels are maintained as needed and upgraded as and when required, so stay on top of maintenance to get the best ROI!