Solar energy for shopping malls has abundant benefits for both the shopping mall and the local community. Occupying large spaces around the city, shopping malls consume enormous amounts of electricity, going off grid and installing solar energy solutions is not only a benefit during the current energy crisis but also long term.
Loadshedding has impacted South African business the most. Interrupted operations, downtime, and decreased productivity translate into revenue losses. Sectors such as hospitality and retail, who are heavily reliant on continuous power experience a dip in foot traffic and reduced consumer spending during load shedding periods, further impacting their financial health. With the addition of solar panels, barriers to retail revenue loss will no longer exist.
Advantages of Solar Energy at Shopping Malls
Solar panels are cost efficient. In the Western Cape, solar resources are available almost all year round. The significant cost reduction of solar PV rooftop systems is leading to grid parity in almost all industrialised countries. Onsite power generation makes economic sense for the private sector and at shopping malls, where there is an abundance of rooftop availability, rooftop solar panels are the logical choice.
The addition of solar panels mean businesses can produce their own power for the same or a lower cost than rates for grid electricity. In South Africa, a further driver is the current and continued constraints of the electricity supply system.
Regain Revenue
One of the most compelling reasons for shopping mall owners to consider solar panels is the potential for significant cost savings. Solar panels reduce a shopping mall's reliance on traditional grid energy, leading to lower electricity bills and long-term financial benefits. Additionally, shopping malls can take advantage of tax breaks, which can significantly offset the initial investment cost of the solar panel installation. These incentives make adopting solar energy an attractive and financially viable option.
Solar panels not only help lower operational costs but can also boost the overall value of the shopping mall property. Potential buyers or investors are more likely to view a solar-powered mall favourably due to its reduced operating expenses and its eco-friendly image. Consequently, a solar-powered shopping mall may have a competitive edge in the real estate market. Consumers will feel comfortable ‘escaping’ loadshedding inside a solar powered mall, driving retail revenue and saving costs simultaneously.
InPower’s turnkey solar solutions include the installation and management of solar energy for commercial buildings and industrial business parks. We also offer unique financing solutions tailored to the needs of your business and property.
Take a look at some of our recent solar installation projects.
Clean, Sustainable Energy
With no emissions when using PV panels, solar energy is one of the most environmentally friendly options. In South Africa, where much of the power produced is from fossil fuels, installing solar panels and going green promoted an eco-friendly business. Solar panels guarantee free electricity for up to 25 years if well maintained. By transitioning to solar energy, shopping malls play a pivotal role in reducing the city's carbon footprint. Choosing solar power demonstrates corporate responsibility and environmental leadership, which can resonate with customers and the local community.
Moreover, solar panels relieves a financial strain on shopping malls. With the continued tariff increases, over a decade or more, shopping malls will be paying the same amount for their utility usage, whereas, other malls and centres using power from the grid will see their electricity bills double, triple, or quadruple in the same period.
The installation of rooftop solar is a sound investment. From all vantage points, particularly financial and green energy; over and above job creation and economic development.
The longevity of affordable energy production for shopping malls ensures substantial energy savings, reduced carbon emissions, and a favourable return on investment over time.
