Why should Filipino businesses go solar?
- Significant cost savings
- Energy independence and reliability
- Government incentives
- Environmental responsibility
- Enhanced brand reputation
Overview
- Solar energy allows businesses to reduce reliance on utility companies, saving up to ₱70,000 monthly and ₱840,000 annually.
- By installing solar systems, companies can lock in energy costs for the next 20-25 years, ensuring long-term financial stability.
- Power outages in the Philippines occur 20 to 30 times a year, which can disrupt business operations.
- Solar power paired with battery storage ensures businesses can continue running smoothly, even during outages, reducing downtime and potential revenue loss.
Just like various renewable resources, solar power has transformed how businesses approach energy consumption. For Filipino businesses, in particular, adopting solar energy is more than just a trend — it’s a game-changing investment.
Now, as a business owner, you might be wondering why Filipino businesses should go solar. The answer lies in the undeniable benefits it brings. That’s why in this article, we will be walking you through those benefits, and how Solaric — the number one solar provider in the country — can help you make the solar shift faster and better.
Significant Cost Savings
By generating electricity through solar panels, you reduce your reliance on utility companies and shield yourself from ever-rising electricity rates. Businesses that consume an average of 10,000 kWh per month — like medium-sized manufacturing plants or large office buildings — can save around ₱50,000 to ₱70,000 monthly after transitioning to solar.
Over a year, this amounts to savings of up to ₱840,000, funds that can be redirected into other essential business needs, like marketing or equipment upgrades.
The financial predictability of solar power is also another major advantage. Utility rates in the Philippines have historically fluctuated, often trending upwards. With the help of these panels, you lock in your energy costs for the next 20 to 25 years.
With Solaric, we help design and install systems tailored to your energy consumption, ensuring you maximize your savings. This isn’t just cost-cutting; it’s a long-term strategy to enhance profitability and business growth.
Energy Independence and Reliability
Power outages are a recurring challenge in the Philippines, with the average frequency of outages reported at around 20 to 30 times per year in some areas. These outages can disrupt operations, delay productivity, and lead to revenue losses, especially for businesses that rely heavily on consistent electricity, such as manufacturing plants, restaurants, and IT service providers.
With solar power, you can finally say goodbye to unpredictable downtimes by pairing solar panels with battery storage systems. These systems ensure your business continues operating even during outages, keeping essential processes running smoothly.
Government Incentives
The Philippine government offers various incentives to encourage businesses to adopt solar energy, significantly reducing the cost of installation and increasing the overall return on investment. Here are some of them:
- Net Metering Program: Businesses can sell excess energy generated by their solar panels back to the grid, which helps offset future electricity costs and allows for greater energy efficiency.
- Tax Exemptions: Businesses can benefit from exemptions on customs duties for importing solar equipment and income tax holidays, reducing the upfront investment needed for solar installation.
- Renewable Energy Act of 2008: This law provides several incentives, including tax credits, and encourages businesses to integrate renewable energy solutions by offering additional benefits for solar system installations.
- Investment Tax Holiday: Companies that use solar systems can qualify for tax holidays for up to 7 years, depending on the nature of the business and its location, which helps reduce the long-term financial impact of adopting solar.
Environmental Responsibility
Switching to solar energy is not just about saving money and securing reliable power — it’s also an opportunity for your business to demonstrate its commitment to the environment. Utilizing them helps reduce harmful emissions and reliance on fossil fuels, which is crucial in the fight against climate change.
This commitment to environmental responsibility can be a powerful differentiator for your business. Consumers, investors, and partners, for instance, are increasingly drawn to companies that prioritize sustainability.
In fact, a recent study showed that 66% of consumers are willing to pay more for products and services from environmentally conscious companies. By adopting solar energy, your business can position itself as a forward-thinking, eco-friendly brand, building trust and loyalty with customers who value sustainability.
Enhanced Brand Reputation
Customers today care more about sustainability, and by adopting solar power, you show that you’re committed to protecting the environment. This can make customers more likely to support your business and increase their loyalty, which can lead to more sales and growth.
Using solar energy can also help boost your public image and attract positive attention from the media and potential customers. It shows that your business cares about sustainability, which could lead to new partnerships and opportunities with other environmentally-conscious organizations.
Key Takeaway
If you’re still wondering why Filipino businesses should go solar, the benefits are clear. This game-changing chance can put your business ahead of everyone else in the same industry. From significant cost savings and energy independence to valuable government incentives, going solar is a smart decision that helps your business stay competitive and sustainable.
Ready to take the next step? Solaric is here to guide you through the process. We offer expert advice, efficient installations, and ongoing support to ensure your business maximizes its solar potential. Contact us today for a free consultation and start enjoying the advantages of solar energy!