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Could your business make money with renewable energy?

By Greg Bell

Renewable energy is a hot topic and many businesses are jumping on board. As well as being good for the environment, sourcing clean energy shows prospective clients that you care about the world around you and can be a great marketing opportunity. However, it's also a way to save money, and can be very cost-effective to implement if you know how to get the most out of your investments. In short, it's a win-win.

How to make money from renewable energy

Contribute to a feed-in tariff

If you generate more energy than you use, you can hand it over to the national grid and get them to pay you for it. There's usually a set rate and energy companies often pay via a credit on electricity bills. However, each provider varies what they offer, so it's worth checking what's available in your area.

It's also possible you'll eventually be able to buy energy from other individuals, such as nearby neighbours with excess solar energy to spare.

Gain with LGCs and STCs

Standing for Large-scale generation certificates (LGCs) and Small-scale technology certificates, the relevant documentation provides businesses a discount on their renewable energy purchases. Certificates are traded in for a set monetary which acts to bring down the cost of initial purchase. The more energy your clean system can generate, the more certificates you earn and the more money you save.

The number of certificates is reduced as time goes on, with the aim of reaching zero by 2030 – get on the bandwagon now to recognise the benefits.

Save with the instant asset write-off

All businesses bringing in under $10 million annually are eligible for instant asset write-off benefits, and that includes purchases related to renewable energy. The scheme offers an instant return on anything costing less than $20,000, which means you don't have to wait to recognise the savings. Again, this arrangement may not be permanent, so it could be worth investing soon if you're already thinking about it.

Benefit from state rebates for clean energy

Each state operates its own incentives for clean energy investment. In Queensland, there are a number of rebates, discounts and good-value loans available. Not everyone is eligible, and criteria includes items such as number of employees and how much electricity is consumed. However, if you are eligible, you could receive several thousand dollars in support of your clean energy solution. Applications are currently open until June 2019.

If you're looking for a new commercial property that meets your energy needs, get in touch with Ray White Surfers Paradise.

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