An investor’s guide to solar power for your commercial property
It’s no secret that WA’s energy landscape is changing. More homes in WA have rooftop solar panels than ever before - and a growing number of businesses are investing in commercial solar solutions.
If you have been weighing up whether a solar solution for your commercial premises could be worth the upfront investment, here are some of the potential benefits you might like to consider.
Potential revenue benefits
With a solar solution to match the layout, orientation and energy profile of your building, you could achieve more value for your business. Upgrading the energy credentials of your commercial property by investing in solar could also help you to attract tenants who are looking to lease premises with solar.
Potential tax benefits
With initiatives such as the Federal Government’s Instant Asset Write Off scheme , you might be able to claim the entire cost (or part of the cost) of your commercial solar system as a tax write-off (thresholds and eligibility criteria apply). The cost of your investment in commercial solar, and your potential tax benefits, will depend on a number of factors. If you’re not eligible to claim your system as a deduction under the scheme, there’s a chance you could benefit from depreciation, offsetting the upfront cost of your commercial solar solution. Speak with your registered tax agent to obtain professional advice and discuss your options.
Environmental benefits
Solar power is a renewable and more sustainable way to produce electricity. The more efficient solar solution, such as one rated 96% to 98% for efficiency, the greater benefit your commercial solar system will provide as it converts more of the energy generated by the sun into usable, efficient power for your premises.
Potential benefits for your tenants
Depending on their retail arrangements, having access to solar power could give your tenants the chance to potentially save on their electricity costs.
The best time for solar production on sunny days is generally between 10am and 2pm. If a business uses a lot of electricity at these times, they could benefit from solar power.
WA’s energy future is here
As WA’s energy landscape continues to evolve, we’re here to help advise you about energy-efficient solutions for your commercial property.
Case study - 41 Colin Street (Commercial Office Block)
One of the obvious benefits of commercial solar power is reducing the environmental impact of a business – and the fact that solar energy can make a considerable impact on electricity bills in a large building such as 41 Colin Street. These factors, and the chance to lower the energy costs for their commercial tenants, helped the owners of 41 Colin St make the decision to invest in solar. They believe this investment in solar could become a selling point for potential tenants in the future.
With a number of commercial tenants in the building, it was vital that the introduction of solar did not have any negative impacts on the businesses inside.
This commercial office block had a 25.65kW system installed, with 95 QCELLS solar panels and a Fronius inverter.
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