10 Reasons to consider solar power for your business
As a business, there are numerous advantages of switching to solar. We have highlighted 10 reasons for a business to switch to solar power.
1. Sunshine is free!
Despite the increasing energy costs, most areas in South Africa have over 2500 hours of sunshine each year. Consequently, once your solar PV installation is up and running, you will not be charged for the megawatts produced by the solar system except for minor maintenance expenses.
2. Less Red Tape
Business entities can now generate power without requiring a license in South Africa. Their only requirement will be to resiter on the governement’s website and to comply with the technical and environmental requirements.
In President Ramaphosa’s new power plan, a special legislation will be tabled in Parliamanent to expedite the approval of new energy projects to speed up the regulatory process. This enables businesses to continue with their operations sooner.
3. It’s Green
With customers increasingly demanding that businesses be more environmentally responsible, enterprise solar PV is a cost effective way for companies to generate their own clean energy and enter into energy independence. Solar energy is a great way to decrease carbon footprints and create happier environments.
4. Solar technology is improving and costs are decreasing steadily
Over the past decade, advances in solar technology have resulted in significant increases in ‘conversion efficiency’ – the amount of energy that can be produced from a given amount of sunlight. Additionally, even though current supply chain constraints and rand-dollar volatility are resulting in higher prices at present, the cost of solar PV has decreased steadily over time.
Incentives announced under South Africa’s power plan will further offset the cost of rooftop solar power installations.
5. Finance Friendly
Funding renewable energy projects can be a challenge. SunHire offers a unique funding solution for your projects – whether they are on-grid or off-grid, at any stage of the project lifecycle, we have you covered with our tailor-made finance solution.
6. Tax incentives for businesses
Solar PV installations with a capacity of less than 1 MW can be either grid-tied or stand-alone. Grid-tied solar PV systems are connected to the electricity grid, while stand-alone systems are not connected. A business can use a portion of its solar installation for generating electricity and sell the excess electricity generated back to the national grid. This is referred to as “net metering”.
7. Large Carbon Emmision Tax Benefits
The Carbon Tax Act was introduced into law in 2019, reinforcing the importance and utility of renewable energy systems. This will bring about a new way of doing business for both large emitters, who face increasing carbon tax burdens, and environmentally conscious consumers.
8. Longevity
PV systems have a working life of up to 30 years, and are expected to be replaced well before they reach their end-of-life. If properly maintained, Solar PV systems have good longevity with quality panels lasting up to 20 and 30 years and batteries lasting between 5 and 15 years.
9. Simple Solar Installation
With SunHire’s unique finance model and expert installers as partners, navigating solar installation need not be complicated.
10. Solar power is flexible and scalable
Businesses can choose from three types of Solar PV systems:
• A Grid-tied system essentially includes solar panels and an inverter, but not a backup solution.
• Backup systems or hybrid systems, comprise solar panels, an inverter and a component of battery storage.
• Off-grid systems are the third option. Businesses with these systems are completely self-reliant, however, there is no safety net if the Solar PV system goes down and costs can become extremely high relative to the volume of battery storage required.
For more information on how you can switch your business to solar, contact us today!
Office: 012 941 9544
WhatsApp: 082 463 8492
Email: apply@sunhire.co.za
