The demand for electricity has been on the rise since the industrial revolution and is yet to increase even further due to the electrification of transport and heat. In 2020, it has already transformed the modern economy and provides a growing share of energy services.
With this continuous increase in the demand for electricity, the high price of non-renewable fossil fuels, and the ever-increasing concerns for environmental conservation, many organizations are shifting to a renewable source of energy.
Among these renewable forms of energy is solar energy that offers a promising future for clean and green electricity. Many businesses worldwide are now tapping into this alternative source of energy, hoping to profit from its several benefits.
Below we mention some of the advantages solar energy can have for your business.
Cost Reduction and Risk Mitigation
Cost reduction is one of the most important benefits of solar power for businesses. Companies that use solar energy can significantly reduce their commercial power cost, and it can even help them eliminate their energy bills entirely if the system installed on their commercial setting is large enough.
The cost reduction of switching to solar energy, however, is determined by several factors, including the location of a commercial building, time of operating, and industry size. Companies that benefit the most from switching to green energy are the ones that have enough space to build an appropriately sized system to cover their electrical needs. In certain applications, extra solar power can be stored for later use as back-up energy.
Solar incentives are another great reward for businesses that convert to green energy.
Solar energy is becoming more and more popular, and governments all over the world are launching various incentives, and rebate programs to attract their citizens to shift to a renewable form of energy. In Canada, for example, we have several provincial-wide and territory-wide incentives and rebate programs available for citizens and business owners that switch to green energy. Some of these incentives still active in 2020 are:
- Federal Incentive- Saskatechewn: For those provinces in Canada that have yet to commit to the carbon pollution pricing systems, there is funding and rebate programming available for small and medium-sized businesses that invest in green energy, including solar power systems. This incentive goes by the name of the Climate Action Incentive Fund (CAIF) and provides 25% of a rebate on the total project cost. This 25% could range from $20,000 to $250,000. CAIF is currently available in Saskatchewan, Manitoba, Ontario, and New Brunswick.
- Municipal Incentive- Alberta: Municipal incentives for switching to green energy are available for businesses in some municipalities. In Alberta, for example, the Banff Solar PV Incentive Program will provide a rebate of $0.75/Watt for systems between 2 kW and 7.5 kW. Both residential and commercial properties in Banff are eligible for this program.
- Provincial Incentive- British Columbia: In British Columbia, BC Hydro has yearly net-metering for residential and commercial customers. This program allows people to receive credits on their electricity bill for the excess amount of solar electricity generated vs used in a month. Over a period of one year, if more electricity is produced than used, it can be sold to BC Hydro at the Mid-C price, and the credits are set to zero again.
Businesses tend to get labeled as ‘Green’ if they are utilizing renewable energy sources in their operations. For example, if they are producing electricity using solar panel systems, they are reducing their consumption of fossil fuels and are therefore reducing greenhouse gas emissions and environmental pollution. By doing so, any business or company can express itself as eco-friendly, which will give them a positive reputation in the consumer market.
About Dandelion Renewables
At Dandelion Renewables, we provide solar conservation solutions to our customers based in Alberta, British Columbia, and Saskatchewan. We have a complete range of certified products and services relating to renewable energy at reasonable rates. Visit our website, or you can contact us here today to get a free quote.