Debunking renewable energy myths for SMEs

With the suspension of load shedding and not knowing if, or when it will come back, Small and Medium Enterprises (SMEs) should consider available renewable energy options, in case anything happens.

In addition to easing the strain of load shedding, renewable energy also helps to save costs as the price of electricity continues to skyrocket.

Kyle Durham, head of sustainability for FNB Business says the myths and misconceptions surrounding renewable energy make it difficult for SMEs to tell fact from fiction.

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Here are six facts he shared about renewable energy:

• Renewable energy, particularly solar power is less costly than grid-based power in the long term. Durham says the long-term savings on operational costs and the lower dependence on grid electricity, which is set to continue rapidly rising in price in the coming years, make renewable energy the financially wise choice for any business.
• He says solar energy is not too expensive, nor complicated to install. The cost of solar energy systems has decreased due to technological advancements and market competition. For SMEs that cannot afford solar energy systems, there are various financial aids such as the government-funded Energy Bounce Back Loan Guarantee Scheme, or subsidies and tax rebates. He advises business owners to get qualified and experienced professionals to install solar energy systems.
• “Renewable energy solutions are fully scalable and the only limitations on an SME are their budget and the space available for the required hardware.” However, renewable energy does not have to be an ‘all or nothing’ arrangement. Partial renewable energy use, in combination with grid-based power, can still lead to significant savings and enhance energy independence for any business.
• He says one’s business does not need to have a lot of roof space to be able to install renewable energy. There are different alternative renewable energy solutions for businesses with limited roof space. SMEs can consider ground-mounted systems or solar carports.
• In addition to financial benefits, having renewable energy systems means your business will depend less on municipalities and Eskom electricity. Your business will have a more reliable electricity supply to operate through load shedding. Benefits also include a reduced carbon footprint and more support for environmental sustainability.

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Durham says energy storage systems like lithium-ion batteries have evolved in recent years and offer highly efficient, durable and affordable options. “The reliability that good energy storage sources provide, especially during power outages, can be a game-changer for businesses.”