SHOULD PRODUCTION AND BUSINESS INVEST IN ROOFTOP SOLAR POWER?

Installing rooftop solar systems in production and business is popular nowadays. Not only does it bring undeniable economic benefits but also great advantages in terms of environmental protection. Nevertheless, many businesses are still doubting this investment channel. Would it be really effective as expected?

1.Undeniable benefits of rooftop solar systems in terms of business:

The tendency to use rooftop solar systems in production and business is becoming more prefered by many enterprises.

Lowering power cost, making profit by selling electricity to EVN

Lowering power cost is the very first benefit by every investor. Saving running cost is the ground where rooftop solar systems play the main role. By providing a huge source of power most of the time in years, rooftop solar power systems help businesses increase their competitive advantage in the market and also their profit margins.

The Vietnam Government has made many preferential policies in order to buy excess electricity from rooftop solar power, which means there is a new income for enterprises when they join the national power grid.

Cooling the constructions below

The rooftop solar systems have a side effect that many may not know: cooling the constructions below.

The solar panel can effectively absorb the heat from sunlight. This will help cool the roof especially in Vietnam where iron roofs are well popular in factories, buildings, houses… The cool air also makes people feel convenient while working under the roof therefore improves their work productivity.

Strengthen roof durability

Installed rooftop solar power systems also provide a cover for the roofs, protecting them from corrosive factors such as: rain, strong sunlight and sun heat. Your worker may have better safety and you may save a lot of annual maintenance cost. Finally, by covering an old, bare, rusted corrugated iron roof, the rooftop solar panel will improve the aesthetics of your building.

Branding “Green and Clean”

The tendency of using clean energy has been receiving more and more attention. The star among them is solar energy. Solar power is green and clean energy, the easiest to install and use. Green products are well prefered in the market nowadays so a green brand is essential for enterprises.

The investment in rooftop solar power for farms, factories will receive Certificate of Emission Reduction (CERs) – certificates received from projects implemented to meet the goal of reducing greenhouse gas emissions (GHD), each CER is defined as one tonne of CO2 equivalent. This is a proof of the sustainable development of the business, and it is easier to attract investment from partners.

Minimize power shortage also power risk in production

The national power grid production and transmission face many risks such as: power shortage, load instability, transmission lines malfunction… Farms and factories usually have huge power consumption. The risks of energy, power shortage during production will cause a lot of damage in both output, sales as well as company reputation.

Therefore, businesses should either free themselves from possible power risks or reduce the load pressure of the national power grid – by investing in rooftop solar power systems.

2. Limitations when investing in rooftop solar power systems in production and business

Although the rooftop solar power systems do bring benefits for businesses. Many are still hesitating in choosing this investment channel.

First we have the issue of capital. Rooftop solar power investment requires a very large initial investment capital, it may reach several billions for a system with a capacity of 1 MWp.

This is a big investment and will create such financial pressure, especially businesses without idle financial resources. Loan policies from banks for rooftop power projects without preferential interest rates and difficult disbursement process are also one of the causes of significant financial pressure on businesses.

Rooftop solar power investment is a long term channel, usually up to 25 years of lifecycle and long payback time. This is the main weakness of rooftop solar systems compared with other investments.

The lack of expertise in solar power technology is also an issue to consider. As the technology changes day by day, the project has many technical factors. While the investment time is long, it needs careful consultation as well as a long term professional partner.

3. Should production and business invest in rooftop solar power systems?

The benefits have shown that rooftop solar power systems are worthy investment in production and business. It is a strategic move of enterprises in the long term. The problem is how to overcome limitations in deployment and still be able to use solar power for operations. To solve this, many solar power customers have chosen investment cooperation with the same investor.

Many businesses have chosen Sun Times Energy joint stock company as a reliable investment partner to deploy clean energy sources. By participating with Sun Times, customers can fully take advantage of the benefits of rooftop solar power systems without having to spend any initial investment capital. Customers can be completely assured of the technical quality of the system.

We at Sun Times have many cooperative methods, flexible according to conditions and limitations of your business such as hiring consultants, roof rent, selling electricity, EPC consulting and installing contractors… In 2020, Sun Times had cooperated with domestic enterprises to deploy many rooftop solar systems with a total capacity of up to 50 MWp. We also expect to increase this number many times in the coming future.

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