If a business is trying to determine their success, they will most commonly look at their growth, costs and revenue to determine how profitable they are. Becoming profitable in the 21st Century takes an incredible willingness to monitor, manage and, when necessary, correct financial factors that are causing a business to stagnate or lose money.
In order to claim real success, a company would ultimately need to measure their profitability and determine if their costs are low enough and their sales are high enough to make a profit. This means keeping operating costs as low as possible while offering the product or service at a price that is attractive to their customers. This balancing act is the real trick to running a successful business.
By reducing operational expenses, a company can immediately improve their profit margins and make the company as a whole more successful. The question is: which costs does an executive cut down on? For most businesses, the most expensive and least cost-effective part of their operating expenses is the electric utility bill.
Energy is the source of some of the highest expenses of any business, organisation or household and it is just getting more expensive every year. By switching to their own solar-generated power, businesses can lower their electrical bills substantially and improve their cost-effectiveness overall which will boost profitability.
Energy costs, like most things, will continue going up for the foreseeable future. Until new advancements are made in the field which can reduce the cost, impact and fuel types of normal electricity generation. One way of tackling the hefty operational expenses associated with running any business is by supplementing or replacing public electricity for a local power source.
Local power source, in this case, meaning generating power from your building, offices or home using solar (or other) technologies. By subsisting on a private supply on energy, companies are able to limit the power required from unreliable sources, like Eskom, and start taking control of rising utility and operational costs.
Maintaining or lowering the operating expenses of any business is sure-fire way to remain profitable. Solutions like solar power generation to decrease massive electric bills helps companies save resources that could be used to improve and grow other areas of the business.
It is not always possible to reduce payroll, supply costs or overheads but, it is absolutely possible to eliminate, at least part of, the cost of electricity which can be game-changing for any business of any size. The day-to-day activities involved in running a successful business themselves require electricity. It is fundamental to the functioning of any company, anywhere.
Running air-conditioning and heating, lights, refrigeration, geysers, scanners and computers are just some of the integral parts of most businesses’ functioning today. And that does not consider the additional costs of the machinery, software and processes involved in the manufacturing sector.
You cannot function without electricity in the modern world and we cannot just stop using these things in order to lower costs. That is, unfortunately, not a realistic solution. Lowering energy use to lower costs will not work but, lowering dependence on grid power itself can.
Installing a few solar panels on the roof of your building or house could save you over 30% on electricity costs. It is not free electricity but, it is a great start to reducing crushing energy bills. There are some limitations to that as solar power is dependent on the sun and, usually, has a 10 or 12-hour window for energy generation which peaks between 10am and 3pm.
To see the full possibilities of what can be done with solar power and to make the possibility of entirely self-sustaining energy sources, a reality. Businesses and offices need to utilise battery energy storage technologies and reap the benefits of these eco-friendly energy advancements and maximising savings. By using battery storage technology to store and distribute power generated in the day that can be used at any time and for anything.
This might sound too good to be true and the reality is that there some serious costs associated with installing solar panel and battery energy storage systems. These can often be paid off in a matter of months as a result of the huge savings on grid power; and once the system is paid off, your power-generation process could have a net cost close to zero.
The power that is generated can be used to supplement grid power, replace it and even generate excess supply that can be sold back into the grid. However, the question remains: how does battery energy storage for solar power work? And how does it save you money?
First, the solar power system produces energy during the day. As the business generates excess energy supply (that would normally be lost to the grid) it is used to charge the solar batteries. Once the battery’s storage capacity has been reached, the excess power is then measured, recorded and diverted back into the grid for a handsome fee or to be used at a later stage when your business needs it.
The short answer would be that you save money on your utility bills each month by using solar-generated power and by adding battery storage systems to that, one could increase those savings and the solar panel system’s operational utility, exponentially.