Zero Emissions Noosa (ZEN) Inc’s research shows that businesses which invest in solar regularly report the economic benefits it delivers. However, we also know that small business has little time to do the homework on the best options for them.
That’s why ZEN has collated case studies of a range of Noosa businesses which have invested in solar. The case studies, which will appear in Noosa Today regularly over the coming months, document the type of business, the system size, the payback period and the electricity savings for that business.
Haymes Paint Shop Noosa
Co-owner Mason Powell challenges any business in town to take the time and do the financial calculations. He says, “They would be crazy not to invest in solar. The decision to have solar installed is an easy decision to make financially. If in doubt, seek advice”.
Haymes Paint Shop is an example of a commercial tenant approaching their landlord to get permission to install a solar system. The landlord did not pay for the installation, it was the long-term tenant.
Mason says despite the fact that Haymes is a tenant, investing in solar still stacks up. Their electricity bill savings covers the finance repayments, meaning the solar system pays for itself. In this case, the solar system will be paid off before the current lease period of three years is complete, and they also chose a relocatable solar system, if they need to move location.
Haymes Paint Shop is a specialist in paint and decorating, operating six days a week. Business owners Mason Powell and Phil Fortington are very renewables focused and wanted to do their bit for the environment while reducing their electricity spend.
In 2018, they had their 20KW system installed. Pre-solar their electricity costs were $2,190 per quarter. After solar, they saw an 87 percent reduction. Their estimated payback is 2.9 years, for their investment of $23,796 to finance the solar system, which reduces the company’s greenhouse gas emissions by 24 tonnes of CO2-e per year – a great contribution to making Noosa a more liveable environment while saving money at the same time.
In 2020, Haymes went one step further in reducing their electricity costs by investing in LED lighting throughout their store.
See for yourself at www.zeroemissionsnoosa.com.au/case-studies
SIDEBAR
Tax incentives for Noosa businesses to invest in solar and storage
The Smart Energy Council highlights major tax incentives in the Federal Budget that will slash power bills for businesses and drive investment in solar, battery storage and electric vehicles.
Temporary full expensing allows businesses with turnover less than $5 billion to deduct the full cost of depreciable assets acquired from 6 October 2020 and first used or installed by 30 June 2022.
Instant Asset Write Off allows businesses with a turnover of up to $500 million to claim immediate 100% deduction of depreciable assets up to $150,000 by 30 December 2020.
By installing solar and batteries, companies across Australia are saving money. They can fully finance new solar and batteries and save money under these programs. The Smart Energy Council urged the Morrison Government to extend the Instant Asset Write Off because it helps businesses save money and is a critical program for the commercial solar and storage industry.
For details go to zeroemissionsnoosa.com.au
Disclaimer: ZEN Inc. does not provide recommendations about the suitability or effectiveness of any product or service nor does it endorse any provider mentioned. Publishing of information is done as a public service to raise awareness. If a product or service is of interest to you as a solution you need to conduct your own due diligence as to whether that product/service is right for you prior to making any investment or commitment.
