South Australian Business Owners Cutting Costs Through Solar Investments
More and more of South Australia's small-to-medium businesses are now investing in solar energy so that they can massively reduce the costs of operating.
That’s the finding of BDO Australia’s 4th annual State Business Survey, which provides a snapshot of business sentiment for 2017. Throughout July and August the survey ran, covering 130 SA businesses across the major industry sectors and energy pricing topped the list of concerns for South Australian SMEs, with 47 per cent of respondents saying rising costs were either slowing growth or preventing investment. A wave has been prompted of investment in off-grid technologies. The survey showed that 2 in 5 businesses would invest in solar power and battery storage to protect their operations. Of those businesses, 42 per cent would spend up to $50,000 to install such measures. The superstorm event of late 2016 that threw South Australia into darkness has led to many businesses investing in their own power generation, rather than rely on the state grid. As one manufacturer told the survey, “We have a company installing solar panels to our factory that will save us about $4K per year.” Another owner said the state government had botched energy planning through short-sighted and poorly-conceived policies.This view was echoed, with 46 per cent of respondents believing cuts to state taxes would be of greater value than policies to reduce energy costs. 12 per cent said energy costs were increasing the likelihood of leaving the state entirely.Energy consumption set to rise, business must adapt .Energy consumption is on the rise, and the emergence of electric vehicles and automated technologies would put pressure on power supplies. With high power prices compared to the rest of the world, it makes sense for local businesses to invest in solar and solar energy storage to reduce costs.