Power price hikes lead to rise in solar-powered businesses
Author: Darvin Tocmo Date Posted:8 September 2017
Days when households rule solar statistics might be over soon. Due to high power prices, solar-powered businesses are increasing at a fast rate.
Australia has what it takes to be a leader in solar energy. Sprawling lands, abundant sunshine, and apparently, high electricity prices. In fact, South Australia just clinched the not-so-coveted title of “home to the world’s most expensive electricity prices.”
Why solar-powered businesses increase
Power price increase in Australia is so disheartening that more and more companies switch to solar. Solar-powered businesses compete with households now in terms of solar installations. This is actually surprising since households have always dominated Australia’s solar market.
Aside from unjustified price hikes, many businesses go solar because they have large rooftops. The massive space of factories, for instance, ensures installation of several solar panels. Solar PV technology has also improved over the years, making solar panel costs cheaper and the installations, faster.
The shift resulted in the reduction of overhead in solar-powered businesses. It was also a relief for companies to gain some dependence on the grid.
Solar-powered businesses in Australia
The past few months witnessed Australian businesses fitting over 10,000 solar panels. Those in industries such as construction, manufacturing, and education are especially drawn to solar power’s potential.
ZEN Energy’s Richard Turner said commercial contracts increased by 50 percent in the past year. The South Australian solar provider just won several large-scale commercial contracts in various industries. He added that the events go very fast. The media announcing power price increase definitely helped.
100 kilowatts used to be large. But now, a system in the megawatts are common. The bigger industries who used to get cheap power are now approaching solar providers like ZEN Energy for massive systems. Companies realize that power costs constantly increase while solar prices get cheaper. In the last two years, its price is even down to about 50 percent.
Solar-powered businesses will save around 45 percent in energy costs, with a three to four-year return on investment.