While upfront costs may seem overwhelming (not if you work with the right solar energy partner), numerous tax incentives, rebates, and even long-term profit possibilities make solar panels for commercial buildings an excellent investment choice for your business.
There are many benefits to investing in solar energy solutions, and for building owners, businesses, and commercial renters, the pros far outweigh the cons.
5 Benefits of Solar Panels for Commercial Buildings
With rising energy prices, there’s never been a better time to install solar panels on your commercial buildings. In addition to supplying your company with clean, renewable energy, there are nearly unlimited upsides to having solar panels on industrial buildings:
- Save money
- Energy independence
- Smaller carbon footprint
- Reduce operating costs
- Demonstrate environmental credentials
- Increase property values
- Additional revenue stream through net metering
- And more
While these are all great incentives, here are the top FIVE reasons to switch to renewable energy by installing solar panels on your commercial property.
You’ve Got it All Wrong
Getting a solar system costs a lot less than you think
1. Profitability With Net Metering
On average, 20% to 40% of collected solar energy sits unused and is ultimately wasted. The good news is that utility companies offer the option to sell that excess energy back to the grid, which gives you credit on your energy bill. This is called net metering and earns your business extra money throughout the year.
When your solar panels are not collecting energy from the sun during nights or cloudy days, your building will pull needed energy from the grid. At the same time, when your commercial solar panel is overproducing, you’ll send excess power back to the utility company.
Your power company will record how many kilowatt-hours (kWh) you’re using and how many kWh you’re sending back to the grid. At the end of your electricity bill cycle, the number of kWh you send to the power company is subtracted from the number drawn from the grid.
If the resulting number is zero, you owe nothing. If the resulting number is negative, the power company will pay you the going rate for energy in your area.
The more power your solar energy systems can generate, the more opportunities you’ll have to sell your excess energy back to the power company and turn a profit.
2. Increase Client Base
“Going green” is on everyone’s minds, from the general public to celebrities to politicians; everyone is talking about reducing their carbon footprint to save the environment.
Switching from resource-heavy electricity, like burning fossil fuels, to clean and renewable solar power can have more than an environmental impact: it can give your brand a greener image.
Many customers use social causes to choose between two competing businesses. You could gain a competitive edge by advertising your company uses solar energy to power your commercial building and thus increase your client base.
3. Gain Energy Independence by Installing Solar Panels on Your Building
Power outages due to weather or strain on the grid can drastically reduce your company’s productivity.
If having uninterrupted business continuity is an essential element to your daily workflow, you may want to look into investing in a solar panel for your commercial buildings with storage capabilities.
That way, even if the grid were to go down, your company could remain operational.
4. Utilize Unused Space
Do you own a large warehouse with a flat roof? Does your property offer customers a large parking lot with no shade or cover from the elements? Do you have a lot of unused land?
If the answer is yes, you can invest in solar panels for buildings to utilize these open spaces, save money, or even make extra money for your business.
Your unused land or large roof expanse are great locations to install a solar system. You can benefit from reduced energy costs by installing a solar array in a virtually unused area of your property.
A car park is another area most business owners overlook, which can have multiple benefits for you and your customers. Having the ability to park under a shaded structure gives consumers the advantage of staying out of the direct sun and rain.
A solar system structure keeps cars cleaner since debris from trees or birds won’t land on the vehicle. Parking lot solar system structures are becoming increasingly popular, and with all the benefits to business owners, it’s easy to understand why.
5. Increase Property Values
Installing solar panels on buildings is a great way to increase the value of your property. Many business owners or building renters like the idea of energy independence, increased profits or reducing their environmental impact without the upfront costs and installation time needed for a solar system.
A potential buyer that sees solar panels already installed on a building will know they’ll experience energy cost savings from day one and may pay a premium for that benefit.
Long-Term Benefits Outweigh Upfront Costs
While solar projects could cost between $50,000 and $200,000 depending on the size of your system, there are many incentives, rebates, and tax credits that can help you maximize your return on investment.
Combined with the monthly energy savings, and even being able to sell energy back to the grid, the long-term benefits of a solar system far outweigh upfront costs.
Green energy is not only becoming more affordable, but federal and local governments and even utility companies are giving rebates and tax credits to incentivize business owners to invest in clean energy.
You could also qualify for federal incentives such as the Federal Investment Tax Credit (ITC) which allows companies to deduct up to 26% of installation costs from their annual taxes. The percentage will decrease until 2024 when it plateaus at 10%, so now is the time to act if you’re thinking of investing.
Find out more about incentives and tax rebates by looking up your state in the Database of State Incentives for Renewables & Efficiency.
Become a Solar Energy Pro:
Invest in Solar Panels for Your Commercial Buildings and Get Benefits From Day One
For over ten years (and across 40 countries), we’ve been providing businesses with a means to “get off the grid” and improve their energy efficiency. Our experts will thoroughly assess your property and give you a complete cost analysis before helping you decide which solar system is right for your company.
We’ll connect you with competitive financing so you can start reaping the benefits of your own solar array from day one. Contact one of the solar experts at Airis to find out how going green is the best option for your company.