Solar is not just for big companies anymore, business owners of all sizes can benefit from adding solar power to their commercial buildings, since solar energy became a strategic decision to cut expenses for the benefit of your business, aside from having solar can improve your brand name for the public, here we will list all the advantages of going solar:
expect a great return on investment when switching your commercial building to solar energy, usually solar panels can exceed the production of solar energy which can return to your profits as a business owner.
this means that your operating cost will be reduced, and you will have more control over the future electricity bills, comparing the prices of the bills post and pre solar, you will notice a significant difference when receiving your electricity bill, you will not have to worry about rising energy prices.
whether it is a residential or commercial property, the value of it will increase after purchasing solar panels, making your building more desirable.
the investment tax credit (ITC) gives you a 26% of the federal tax credit, with a 100% bonus depreciation available.
Solar panels installation prices have fallen more than 60% over the last decade, state tax credits and cash rebates all involved in reducing the solar system installation cost.
solar panels are very known for their reliability and low maintenance, they require replacement once in a lifetime.
a clean energy business reputation is a positive image when it comes to the public’s opinion, commercial buildings with solar panels give a great impression of sustainability and dedication which will be viewed the same way by your community and shareholders.
To explain how solar investments work, solar projects divided into two revenue generators, power, and renewable energy credits.
The project owner will enter into long-term contracts to sell solar power, and (not always) enter a long-term renewable energy credit contract, which will create the two reliable and ongoing revenue streams.
Usually, the expenses are relatively predictable, that includes the annual rent, maintenance, and property taxes.
The major advantage is sustainability, solar panels rely heavily on the sun, and generate energy from the sun, which means by itself a limitless energy source, which cannot be said the same as natural gas and fossil oil.
One of the major advantages of investing in solar panels is that they have a low impact on the environment, they have no carbon footprint during their electricity production and they do not have the same damaging effect on the lands.
The biggest and most obvious con when it comes to solar panels is that they do not generate energy except during daylight hours, this issue can be resolved with solar batteries which can store the excessive energy production during the day by the panels.
Another disadvantage is the size of the solar arrays needed, which means they will need wider space to be installed on, it can be space consuming as well. So, installing solar panels on top of buildings will be a much better option to solve this issue.
Solar panels can last to 25 to 30 years before they begin to slightly degrade, after that time period their ability to absorb sunlight will be reduced, although their efficiency will not be affected until they reach the material age of 40.
Solar panels do not get expired sort of speak. But over time they will tend to become less efficient at producing energy.
The only time you might consider replacing the panels is when you notice the energy bill starting to increase, this happens due to the lack of functionality of solar panels, by then you might need to invest in new ones.
However, replacing solar panels does not happen often, usually happens once or twice in a lifetime if they were not severely damaged.
Looking through the prices over the last decade. You might wonder, how cheap will solar panels get?
When it comes to, they will relatively decrease, along with its hardware components such as inverters and batteries.
However, the cost of installation will not drop in the same manner, since hardware costs are less than 40% of the price tag.
For the material only costs, we will list 5 sizes of solar energy system and their prices.
|System size||Average cost for material only|
|4kW||$35,000 - $40,000|
|5kW||$40,000 - $45,000|
|10kW||$70,000 - $80,000|
|20kW||$100,000 - $120,000|
|30kW||$120,000 - $150,000|
As for the solar panel service, if needed, all solar panels installers perform complete diagnostics, repairs, cleaning, system updates, and monitoring.
In conclusion, installing solar panels on commercial properties is a good investment, and going solar, will save you a lot of expenses on electricity in the long run.