Electricity Costs on the rise
The price of electricity has dramatically increased over the last couple of years and it has forced business owners to rethink their overhead costs. Prior to 2022 electricity prices were relatively stable which meant that businesses could predict their annual bills with relative confidence and assign an appropriate budget to meet their energy needs.
Since 2022 the price of energy has swiftly increased at a frustratingly rapid pace. Businesses that have relied on the grid to keep the lights on are now facing astronomically high energy bills, cash flow implications, and unfortunately business uncertainty.
Businesses are now required to take the necessary steps to reduce their electricity costs and this could involve their dependence on the grid. In doing this, businesses can avoid the stress and instability of fluctuating energy prices while also positively impacting the environment which is of growing concern worldwide. A suitable and straightforward alternative energy source is solar energy which has become more accessible to small and medium-sized businesses as a result of leasing with companies such as Grenke.
Many businesses are now tapping into this alternative source of energy, hoping to benefit from its numerous advantages.
- Reduced Overhead Costs
Reducing overhead costs is a concept that every business owner aims to achieve. While a consistent energy supply is vital for every business, a major overhead expense that can be reduced is your electricity costs and solar power is now a viable solution from which to achieve this target. Solar panels do not rely on heat to generate electricity, instead, they use UV light emitted by the sun. This means that from January through to December in Ireland you’ll have on-site electricity production to power your business operations.
Solar panels are no longer the luxury experimental item they once were, and the associated technology is advancing all the time. The advantages of harnessing solar power are obvious during an energy crisis. Your bills will be reduced and energy price increases will have less impact on your bottom line.
According to EnergySage market data, commercial property owners can save up to 75% on energy costs by using solar power. Solar power provides financial reassurance because When you’re self sufficient or semi sufficient in solar power, you’re immune from billing spikes and inflation. Being dependent on the commercial power grid means you’re at their mercy for seasonal or supply shortage cost increases.
Another attractive aspect of solar panels is the low maintenance costs involved in keeping them. With the lack of moving parts, there is no wear and tear involved. Thus, once you’ve covered the initial cost, you can expect very little spending on maintenance and ongoing repair work, leaving you to enjoy the savings!
- Environmental Benefits
Members of the general public are becoming more aware of the damage that the world’s reliance on fossil fuels is having on the environment. Those environmentally conscious business owners have researched and selected solar power as their energy source going forward in a bid to be more sustainable. During operation, solar panels do not create a negative impact on the environment. They release no greenhouse gasses or air pollution and by harnessing solar we reduce our reliance on fossil fuels.
In addition to the use of solar panels for selfless environmental purposes, they also allow your business to visually communicate your commitment to sustainability. As a result of the growing concerns surrounding the climate change crisis in today’s society, becoming a green business will give you a competitive advantage. Customers are increasingly making greener choices in terms of which businesses they choose, and voting with their wallets. Solar panels are great for boosting your corporate social responsibility, which can make all the difference in attracting increasingly selective customers and investors. Therefore the move toward environmentally sustainable energy sources serves more than a purely selfless purpose. It’s a no-brainer!
- Improved Energy Security and Independence
With the investment into a self-contained solar system, businesses can reduce or remove their dependency on the national grid which will make them less vulnerable to power cuts and other outages. Productivity is threatened during periods of power outages as it can severely limit your ability to work and thus, cost you money in the long run.
When you’re self-reliant on your solar panel system, you’ll have a dependable electrical supply no matter what happens to your commercial power provider. Properly designed and installed solar panel systems are completely reliable as they have no moving parts. With solar energy, you have the option of storing electricity through a battery system and therefore power is always available when needed.
- Solar is accessible
The solar landscape has changed in recent years. A suitable and straightforward alternative energy source is solar energy which has become more accessible to small and medium-sized businesses as a result of leasing with companies such as Grenke
Talk to GRENKE today!
As one of the leading financial service providers in the Irish market, GRENKE’s slogan is ‘Fast, Forward, Finance’. GRENKE offers entrepreneurs fast and flexible financial solutions through a range of services including leasing and invoice finance. We match the perfect financial solution to your unique business needs, from small businesses to large enterprises.
Over the last 40 years, GRENKE has provided leasing to numerous styles of businesses and organisations; sole traders, partnerships, public and private limited companies, associations and organisations, medical, health, and educational providers, public hospitals, semi-state institutions, Government bodies and so much more.
Our expertise and strong market position are no coincidence. If you are a business owner looking for financial solutions in Ireland or advice on fast and flexible financing, talk to a GRENKE Account Manager today.