As another EOFY looms upon us, it’s the perfect time of year for small business to go solar! While preparing for tax time can be a hassle, there are also a lot of opportunities for smart investments, and leveraging tax deductions.
One of the most rewarding commercial investments, especially in our sunny Fraser Coast region, is harnessing our abundant natural energy and saving BIG with solar! If you’re looking at where you should spend your dollars to boost efficiency and improve systems in your business, solar is a powerful investment – both short and long term!
2019 Instant Asset Tax Write Off
If your small business has a turnover of under $50 million, you are entitled to the Government’s Instant Asset Tax Write off Scheme.
For asset purchases made and installed between 2nd April 2019 and 30th June 2020, you can write off up to $30,000 as an immediate 100% tax deduction.
Solar is becoming a popular choice for business owners to leverage this incentive to upgrade or invest in assets to help them reinvest in their business and grow.
The average household and small business energy bill is more than 80% higher than it was ten years ago – OUCH.
Reducing the need to draw energy from the grid at peak daytime rates translates to incredible savings for small business.
- Immediately reduce your operating costs
- Protect your business against future energy price hikes
- Lower your carbon footprint and emissions
- Increase the value of your property and business
And up to $30,000 is 100% tax deductible!
What is the cost of a commercial solar system?
The rise in demand for solar installations has substantially lowered the cost of solar – particularly for hybrid battery storage systems.
The cost of commercial solar is determined by your particular usage needs, and the location, size and orientation of your roof and building.
The quality of your solar panels, inverter systems and battery storage systems should never be compromised. Always opt for reputable brands for your solar components, and a trusted local installer.
This time of year brings many EOFY specials for commercial solar investments with interest free finance options or attractive package deals.
Does my 9-5 business need a battery system?
You might think that because your business only operates during daylight hours, battery storage is not necessary. However, keep in mind your stored power will serve you well when there is a power outage, or on overcast days when you’re generating less power from the panels.
Batteries can also give better assurance that daily peak demands won’t be as high. Demand charges can account for as much as 50% of a power bill in a commercial operation, so this can be a significant benefit to investing in solar batteries.
Every business and circumstance is unique. Your trusted local solar professionals will consult with you closely, and recommend the perfect solution for you.
Evolution Stone Case Study
GCR Electrical completed a 3 phase 31.65kW solar installation for Evolution Stone in April 2018 which now provides 70% of their total energy requirements.
- 70% of total energy is supplied via solar
- $184,000 in projected savings over 10 years
- Cash positive investment within 2.8 years
- Initial power savings of $14,000 – $16,000 annually
We just love helping other local businesses achieve these amazing results. Our team work closely with you to optimise the benefits of solar and maximise your efficiency. It’s a bright future of savings when you switch to solar with us.
Other commercial 2019 solar rebates and incentives
Interest-free loans and grants for battery storage
- Queensland small businesses can apply for grants up to $3000 or interest-free loans up to $6,000 to be repaid within 10 years.
Small business grant for combined solar and battery systems
- Small businesses can apply for a grant up to $3,000.
Make the switch to solar happen for your business
Even though the EOFY can be a brain strain, solar is a no-brainer! Celebrate the sunshine and tax deductions this end of financial year and invest in cutting your small business energy costs – for good!
Get in touch with the GCR Solar experts to arrange a free onsite appraisal and quote. Let’s get you off that grid this new business year!