Many countries in the world have started using solar power in a big way. Initially, since the governments reduced the tariffs and supported households as well as business to start using the energy. Solar systems are still popular among small and medium businesses even after the Government has stopped subsidizing the prices of the systems.
Most of the households in Australia now have the support of solar panel systems that help them limit the usage of electricity to some extent. This is clearly proven by the recent electricity bills, which shows a lesser amount. More households are drifting towards using solar panels since the electricity charges have gone high due to various reasons.
While its cheaper for households to go for solar energy, small and medium businesses are also following the suit and installing these systems for their office usage. The increasing electricity charges, plummeting price tariffs of solar panel systems and usage of a normal small and medium business are the reasons behind this.
Why Solar for Small and Medium Businesses?
Most of these businesses operate between 9 and 5. It is better to use solar energy in this time frame as it is available aplenty. This has helped them reduce their electricity bills to almost 35 percent less than previous bill amounts. This being the case, the withdrawal of Government’s subsidies on solar panels or solar systems has not affected these businesses.
Small and medium business could also benefit from the initial support given by the Government, but solar panels for businesses manufactured were extremely expensive. Though most businesses have already started reaping the benefits of solar panels, some are yet to catch up. This seems to the best time to invest in solar panels as the prices have plummeted like never before. The firms that are lagging behind don’t seem to realize the benefits of the solar energy.
Based on the electricity tariffs, the time frame to payback might vary. This will also be dependent on the company’s ability to harness the solar energy produced every day. It is quite possible for businesses, which pay more than 30c/kWh electricity tariffs, to get their returns back in three years. A little bit of hard work may be required for this though. A more realistic and feasible expectation would be a period of five years. This is a happier option too.
As the electricity prices keep increasing, the rate of return for solar energy systems investment will be between 10 to 35 percent. To support small and medium businesses, solar companies offer financial terms up to 5 years in which period the businesses can hire-purchase solar systems.
With all these positive sides to solar panel systems, increasing popularity of these are to be continued for years to come. As per the increasing demands, many countries across the globe are supporting people and businesses to switch slowly to alternative energy resources. Though Australia has withdrawn the subsidies for solar panels, let’s hope the country will slowly and steadily switch to renewables. Needless to say, the country can harness alternative energy because of the vast sunny landscapes providing opportunities to trap solar and wind energy.