Nowadays, many businesses invest in solar energy. To understand if commercial solar panel installation is right for your business, you should consider some factors. In case you plan roof repair or new roof construction, solar investment can be beneficial for your business. Or in the event you will have growth investment in the near future, it can cause additional energy demand in most cases. Accordingly, solar power will help you offset the extra expenses.
Solar panel system combination with battery storage system will also let you increase your savings. When solar panels generate electricity and create excess energy, this will create no additional value for your night energy needs unless you have solar batteries.
Moreover, solar panels have become one of the safest and strongest investments to make today. The average cost of solar panel installation is also dropping down, making it more affordable worldwide. Solar energy has become the cheapest source of energy.
Companies of all sizes can have benefited from solar power. So, what are the benefits of business solar?
Return On Investment
Solar panel installation is an investment. When going solar, you get various chances of earning money through your solar incentives every month. Thus, ROI is the essential factor for business owners to be sure about profit. By installing a solar panel system, you start seeing savings on operational costs and energy bills.
Besides, solar panels are becoming more efficient, which means the return on investment will get paid off quicker. So, the more efficient your solar system, the faster you get returns. You can get revenue from excess power sold to your utility grid in locations with net metering available. For those who rely on other types of energy like natural gas and coal, turning to solar energy will help you decrease your energy cost from about two to 10 cents per kWh.
Many other factors, like your business location, industry, activity, can decrease your cost. Commercial solar definitely is worth your solar investment.
Your Business Operational Costs Reduction
Operational cost reduction will have a positive impact on your business. It can become one of the important ways of making your business more profitable. Every month you spend money on power, energy, lights and other forms of electrical energy. Solar investment is the best way to decrease your costs.
So, just in case your business has high operational costs, solar panel investment is suitable for you. Overall, solar energy is one of the most expensive areas for the business.
Moreover, once your commercial solar panel cost is paid off, you will start receiving money through incentives and rebate programs. And in case your generated energy by solar panels is more than the energy you need to spare, you can always store the excess energy with solar batteries or send the excess energy back to the utility grid as revenue.
Overall, reduced costs provide various benefits making the commercial solar worth installation.
Increased Property Value
Another benefit of commercial solar installation is the property value increase. Commercial buildings usually have higher property value. It will help them sell the building faster in the future. With solar market progress and solar product development, commercial properties become more desirable. Grid energy independence can also attract more investors then.
Commercial solar panels have a low maintenance requirement. They are built to last for years. The minimum product warranty of commercial solar panels is 10-15 years. Commercial solar panel installation will cost you no more than its initial investment. So, your solar panels will make you a return on investment as soon as installed.
Commercial solar panels are easily accessible. The solar cells are located in the tempered, protective glass, framed by non-corrosive aluminum. They will withstand wind, rain, snow. So, you can produce your electricity for at least 25 years and even more.
Solar Incentives And Tax Credits
By installing a commercial solar panel system, you will benefit from a solar investment tax credit program (ITC). It will let you get a 26% federal tax credit. Your business can also get immediate cost deductions and bonus depreciation on your solar installation.
One of the main incentives is the Small Scale Technology Certificate and Solar Renewable Energy Credits (SRECs).
Environmentally Friendly Commercial Solar Business
In today’s business world, clean energy commitment is an important issue. It is a positive impact on your brand’s dedication to the environment. When your customers, partners, employees and even competitors see your messages of going green, you update the excellent impression of the company. So, going solar reduces your electricity costs, creating additional free finances for your business development and impacts your recognition as a leading player in your business market.
Many companies plan corporate sustainability goals making themselves attractive business partners in the market ad for local communities. This will bring you new sales and popularity and give you the status of an eco-friendly company.
Commercial solar power systems are widely available. The simplicity of solar panel kits awakens small businesses into trying to build a system. However, a professional solar panel installation company with experienced staff and complete commercial solar solutions will improve your customer staff.
Author of a publication: Irene Abgaryan