Despite the low feed-in tariff, solar power can still be a great idea for your business.
A business that operates mainly during daylight hours can get a good return on a solar system because they make and use their own power during business hours and then go home and turn off most of their equipment at the end of the day.
Any power generated by a solar panel system is used before power is drawn from the grid, so the benefit you get from that power is equivalent to the full commercial tariff of between $0.24 and $0.34 per kilowatt hour.
This compares very favourably to the current feed-in tariff of just 5.5 cents. Even though the feed-in tariff is small, you will still earn some credits on weekends and holidays, further reducing your power bill.
A business should also be able to claim back the GST expense of the installation and also claim a deduction of some type for the installation itself. Interest on money borrowed to finance a solar power for business installation should also be tax deductible.
(Check with your accountant for details that relate to your particular circumstances)
Given the energy savings and reduction to your power bill and the potential tax advantages, solar power for business is definitely still a great idea.
For free advice, a free on-site inspection and proposal tailored to your specific requirements, phone Mance Electrical on 6331 4711
