If you’re thinking about making the switch to solar energy, you’re not alone. A growing number of business owners are realizing the benefits of solar for commercial buildings – from reducing energy costs to helping the environment. In this post, we’ll outline 10 advantages of solar energy for commercial buildings. Keep reading to learn more!
Before we dive in, you may have some questions concerning solar energy systems and how they can benefit your business…
Question #1: What solar solutions are available to me as a commercial building owner?
Commercial property developers that want solar power can choose from dozens of choices. Solar panels installed on parking lots, parking areas, carports and other structures may provide an excellent message but may have less energy consumption. This solution reduces some energy costs but it can also help your clients to know that you are supporting energy saving. If you have a large flat roof or ground surface near your commercial premises, you should use larger solar panels for your home or building.
Question #2: How do I know if my building is a good candidate for solar panels?
Most commercial solar buildings have large flat roofs that are well maintained. Solar energy projects are expected to continue over the years, but it is better to ensure your roof lasts longer. Technology and monitoring of rooftops offer a higher solar production with comparatively lower investments, enabling the construction and renovation of new roofs or other infrastructures.
Question #3: How do I bill my tenants for solar energy usage?
Commercial building owners can offset their electricity bills by installing solar.
If you want to have the rent from your tenant contribute towards paying off installation costs, then there are a few ways that it can be done. One way would involve charging them a monthly fee based on their electricity usage which would offset the cost of installing solar panels on your commercial property. Another option could include amortizing your total anticipated cost with taxes over 15-25 years while asking tenants for some extra cash up front before you decide to install solar panels—consider this when calculating a reasonable monthly bill for your tenants.
Question #4: How much will I save on my electricity bills every month after switching to solar?
Solar energy will give your commercial business a major boost and provide an economic return. EnergySage reports show that the average commercial property owner pays around $557 in monthly electricity bills before going solar. After their installation, these business owners saw a decrease in their energy costs by approximately 89%. Switching to solar energy is likely to also guarantee you low electrical rates over its lifetime, usually 20 to 50 years. . Installing a commercial solar energy system can also offset your energy costs through a solar investment tax credit.
Here are 10 advantages of solar energy for commercial buildings:
Advantage #1: Stabilize your future energy costs
With solar power, you can lock in the cost of your energy bill and avoid any future rate hikes. Florida electric rates will increase drastically in 2022, and with consumption growing faster than ever before–costs will rise at a much higher pace!
It sometimes becomes difficult to predict the future costs. However, the prediction of electricity costs can get easier when solar panels are added. You can get the benefits of a commercial solar panel installation with dramatically reduced power expenses.
Going solar is like paying off your future energy bills. By going green, you can free up cash flow for other projects while still saving on costs!
Businesses typically pay down their solar installation costs in three-seven years. The real benefit of going solar starts after that period, as businesses enjoy free electricity for up to 25 – 35 years (a savings worth millions)!
Advantage #2: Increase your property value
The return on investment for installing solar power is substantial. Property owners who invest in this technology can expect their commercial building to sell at a higher price (compared to comparable properties) when they decide to sell, which may again cover the initial cost of solar installation.
The addition of solar panels to a commercial property can increase its value and make it easier for interested buyers. This is because energy efficiency makes people want what they have, which means their short-term operating costs are lower than if they were doing something less efficient like heating or cooling an entire building with hot water heated onsite; not only does this help them save money but also increases how much revenue comes from each dollar spent!
Advantage #3: Provide Benefits to Commercial Property Tenants
SEM Power can help you build solar carports at your business location. These structures not only provide renewable energy via the solar panel installations, they provide shade to keep employees’ cars cool when parked at your business. EV charging stations are also a sought-after feature. Having a built-in EV charging station provides your commercial tenants with the means to recharge their electric vehicle safely and conveniently when they visit your business. It’s an attractive feature that may persuade people to visit your business instead of one that doesn’t have a solar carport.
Both EV outlets and electric vehicle charging stations, such as the ChargePoint CT4021 , can be added inexpensively during the solar carport installation process.
Advantage #4: Solar panels are more affordable than ever
Solar panels are currently cost-effective at 97.8 million euros and installation has slowed by over 70 per cent during this period. This means solar installation costs have slowed down. Federal tax credits and rebates are available through solar energy programs.
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Advantage #5: Improve your operating cash flow
After your solar system is installed on business, you can start slashing the electricity bill. When you’re paying a higher percentage to an electricity supplier, you’ve got extra money available once your panels have been fully paid.
Advantage #6: Reduce your operating costs
If your business solar panels have been sold, they can reduce the operating costs in the business and thereby the cash flow in its accounts. The costs of implementing a solar project can be easily paid for over the lifecycle of the solar system.
Advantage #7: Tax credits and bonus depreciation
The solar investment tax credit is yet another solid benefit of going green. With this incentive, businesses can deduct 85% off the cost of their taxes which will help offset any upfront investment you may have made in purchasing your new system. In addition, your commercial solar energy system may be depreciated as an asset for your business.
Solar power costs in the last few months have dwindled by 5%. It has been driven in part by consumers’ desire for a greener economy and government mandates to reduce environmental degradation. In addition to historically low costs, commercial builders are also eligible for government incentive programs.
Advantage #8: Improve your brand with a greener image
A good part of commercial solar panels is marketing your commitment to clean power to clients. That shows your commitment to sustainability. When people hear that you’re green and they want to see them for yourself then they can make an impression on you. Going solar can help protect the environment and affect how people view your business.
Advantage #9: High reliability and low maintenance
Almost all commercial solar panels can be kept clean and quiet. Commercial buildings usually have an accessible structure. Solar panels are wrapped in tempered glass, protected by rust proof aluminium frames. They have to endure elements and are able to withstand rain, storms, wind or snow. Most photovoltaic cells in solar cells don’t corrode.
Advantage #10: Solar panels give you a great return on investment
In a case of solar building you can think of it as a cost, not a purchase. In fact, solar power has a greater return on your investment than many other energy investments in terms of your company’s annual revenue.
In general solar systems are cheaper, but they are more durable and less expensive. Most commercial buildings have extensive rooftop areas which can be easily covered with solar panel technology. This roof space is your most unusable asset which could generate income from space commercial property developers should put into use. Commercial buildings typically get rewarded with recurring revenues in five or fewer years.
As long as we have energy we already face climate problems. More companies are shifting their focus to sustainable building practices. This is a very important step forward. Solar energy panels can be easily adapted and installed at homes and businesses. Once expensive, traditional solar panel systems could be installed for less than $3000. While some business owners may find the bulky roof tiles annoying, others are available such as rooftop tiles.