How to Cut Down on Business Expenditure With Solar Investments
As the energy market experiences the shocks inherent to non-renewable resources, a greater number of companies are now looking for ways to cut down on fluctuating electricity bills. In this context, solar investments have proved to be a popular solution – especially here in Australia.
By switching reliance from coal and other finite resources, solar energy presents businesses with a free and unlimited source of energy. Beyond reducing electricity bills, therefore, these solutions are also extremely environmentally friendly.
Diving into the various solar investments companies, we can leverage to save money. In the meantime, our blog this week highlights the best ways to cut cost in everyday operations. Continue reading to find out!
Solar PV technology
This type of system converts sunlight into electricity that powers all the electricity requirements of a commercial space. Solar PV technology, therefore, almost completely displaces reliance on the national grid and meets a variety of needs.
While this can prove to be a pricey investment – owing to its powerful and versatile nature – solar panels are guaranteed to pay themselves over after a certain period of time. Eliminating costs from day one, they represent a long-term savings strategy that is unparalleled to anything else on the market.
Further, this technology is becoming more affordable given the developments in solar technology and the manufacturing process, as well as the number of green rebates and incentives presently available.
Outdoor solar lighting
Another lucrative solar investment is outdoor solar lighting. Here, businesses with significant outdoor space or those that maintain separate properties can cut down on light bills with this option.
Using PV technology, solar energy is collected and stored in batteries, which later power all kinds of outdoor lighting. Given the design of these systems, they run independently of the grid, representing an irresistible opportunity to cut down business costs.
For companies that decide to opt for this type of solar investment, these systems need to be placed in a location that enjoys direct access to sunlight. It’s also important to determine how long these lights need to run, prior to purchase.
Solar water heaters
This option is ideal for commercial spaces that possess extensive hot water requirements. Generally, these systems enjoy cost savings anywhere between 50%-80%. This depends, however, on factors such as location and total water use.
While solar water heaters may not replace conventional counterparts, these can reduce reliance significantly. Thus, for business with giant-sized hot water requirements, this solar investment holds the most value.
Prior to purchase, however, it’s important that companies consider the various types of collectors and storage tanks, to choose the most appropriate system for their business. These generally include active and passive designs. It is important, therefore, to consult experts in this process.
Solar heating and cooling systems
Designed specifically to heal or cool internal spaces, solar heating and cooling systems are other popular types of solar investments.
Replacing or supplementing traditional heaters and coolers, these solutions harness solar energy to heat and cool the external air, pumping it back into buildings to keep them comfortable. In terms of the latter, thermal power causes an evaporation of liquid refrigerants, which absorbs heat and cools the air. This is then sent inside a given space.
As with other solar investments, it is important to consult an expert in the field in order to choose a system that will meet every need and reduce energy expenditure.
In this process, companies also need to inquire about zoning or building codes in order to ensure that installing these systems won’t violate any regulations.
Solar investments are highly popular in the present energy market.
Given their use of renewable energy and zero operational costs, they represent a cost-effective way for businesses to ensure they’re free of price shocks and supply shortages in the energy market.
By considering the options highlighted above, it’s also possible to abide by emerging regulations on running an environmentally friendly business – wins all around!
Keen on finding out more of the best solar investments?