Solar energy is a relatively easy and affordable investment for businesses of all sizes, offering significant long-term savings at a time when companies are looking to reduce their operating costs.
Many small and medium-sized businesses are still learning about the benefits of solar energy, but government policies provide a number of incentives to encourage commercial solar installations.
Government Incentives for Commercial Solar Installation
1. Savings on energy bills
Energy bills can be unpredictable and volatile, making it difficult to budget for business expenses. However, commercial solar panels can significantly reduce your electricity costs, making your energy bills more predictable and stable.
2. Solar Rebate
Switching to solar energy can result in significant tax benefits. Local, state, and federal governments support the transition to renewable, clean, and affordable solar energy by offering tax breaks and financial assistance.
3. Instant Asset Write Off
The Australian government has lifted the cap on the instant asset tax write-off, making it more attractive than ever for businesses with a revenue of up to $500 million to install solar panels. Businesses can now write off the full cost of solar panel systems up to $150,000 before June 30, 2020.
4. Accelerated Depreciation
The Australian government is also accelerating depreciation deductions with a 15-month spending bonus. Businesses with a turnover of less than $500 million can deduct an additional 50% of the cost of an asset in the year it is purchased until June 30, 2021.
5. Green Business Approach
One of the most appealing benefits of commercial solar panels is the opportunity to showcase your commitment to renewable energy to your customers. This sends a clear message about your commitment to environmental sustainability. Your employees, clients, owners, neighbors, and others will be impressed to see that you are going green, and this can have a positive impact on your company's reputation in the community.
Reference: https://www.ato.gov.au/Business/Depreciation-and-capital-expenses-and-allowances/Simpler-depreciation-for-small-business/
Conclusion
Commercial solar is a sound financial investment for businesses of all sizes. It offers significant long-term savings on energy bills, government incentives, and a green business approach that can boost your company's reputation. If you are considering installing solar panels at your business, be sure to research the available government incentives to see how much money you can save.
[Disclaimer: The blog post is for informational purposes only and should not be considered professional advice. For accurate and up-to-date information on renewable energy, refer to reputable sources and consult with experts in the field.]
Please don’t hesitate to contact Betta Value Renewable Energy if you have any questions about this topic.
