Queensland businesses invest in solar to combat increase power prices
QUEENSLAND businesses are leading the country in making the switch to solar, as energy prices skyrocket.
The Sunwiz ‘Commercial Hotspots,’ report shows businesses across the state are installing as much as 241kW a day.
Report author and Managing Director of SunWiz Warwick Johnston said an increasing number of Australian businesses were turning to solar because it made economic sense.
“It’s a foolproof way to improve your bottom line in the face of rapidly rising electricity prices, and increasing long-term uncertainty. Installing solar is a very quick and easy way for owners of small and large businesses to take control of their energy bills and reduce overheads,” Mr Johnston said.
The report also found large commercial businesses are leading the charge towards solar energy conversion. In Cairns, the volume of solar power produced by large businesses alone increased by 75 per cent over the last two years.
“These high volumes of growth in solar energy output can be seen across the board, and it’s very encouraging,” Mr Johnston said.
Managing director of mining and energy company, Linked Group Services, Jason Sharam, said his business was in the process of becoming entirely energy self-sufficient.
“Our energy bills are expected to reduce from $70 000 per year to just $2000 annually. The sun is a pretty amazing resource,” Mr Sharam said.
“People have always looked at energy bills as an overhead, as something on the side. But with prices rising the way they are, electricity is no longer an afterthought but rather a major component of a business’s bottom line.”
Solar installers anticipate the massive interest from businesses to continue.
Lliam Ricketts is a solar wholesaler based in Brisbane and said the payback period for installations was getting shorter every year.
“With a return on investment of 15 per cent, solar is an increasingly attractive investment for businesses trying to lower their overheads,” Mr Ricketts said.
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