Should My Business Get Solar?
The average electricity bill for businesses range widely, but there’s one thing that remains true no matter what: It’s not cheap to keep a company up and running. Some areas may have local incentives and programs to encourage business growth, but these endeavors end up being a drop in the bucket by the end of the year. Many business executives have begun to eye sustainable forms of energy like wind and solar. And for companies already running by the light of the sun, their portfolios show that they discovered a hidden gem that’s been hanging in the sky all along.
What Does Solar Energy Entail?
Solar energy production, especially compared to complicated equipment many businesses are used to dealing with, is fairly quick to have designed and installed if you choose the right company. All of the magic happens inside each sleek solar panel which instantly transforms light into electricity. Like the eyeball of a housefly, solar panels are broken into several smaller units called photovoltaic cells. Those cells then combine their energy stash and send power to the connected grid.
One of the more difficult parts is designing a system that will provide the greatest ROI and stability for your needs. This can be a complicated calculation and often, the biggest system isn’t the right choice. Compounding factors can include your roof design, available land space, power usage throughout the day and night, available local incentives, the need for tax credits or depreciation, the utility company’s regulations, and more.
Coastal Solar’s master, certified engineers take all of this into account to design a system based on ROI – not system size.
And, though it requires a larger up-front investment, you should explore a solar + storage battery system. This helps you maximize your use of excess energy production and leads to a better long-term ROI and can even supply power to critical systems during a grid outage.
Though it will only provide a rough estimate, there are ways to calculate the total number of solar panels you need.
Differing factors may contribute to higher installation and operational costs. However, solar systems usually pay for themselves within a few years (and last for decades) and their use contributes to a cleaner environment both inside and outside your company’s four walls.
How Much Does a Solar Installation Cost?
Solar power isn’t just for the rich. And, it’s not something that companies only do to appease environmental concerns or raise the brand perception (though it doesn’t hurt).
The cost of a completed solar power system can range dramatically from a few thousand to several hundred thousand dollars. After tax incentives, grants, and other considerations, a small operation such as a local insurance company may only spend $10,000 out of pocket.
Because systems are so reliable, add value to properties, last decades, and improve profit margins, many banks are eager to provide solar financing.
Related: How much does solar cost for a home?
What Will Solar Do for Business Expenses?
Data proves that the inclusion of a solar energy system into an existing business model significantly impacts the bottom line. And, between the goodwill produced by installing a system and the ability to invest revenue into areas beyond utilities – a system can often improve customer perception and employee morale.
According to Forbes, positive employee morale benefits a business in several ways. And according to a poll conducted by Global Strategy Group, more than 75% of the population views solar as the answer to current and/or future energy problems. Combining those two concepts can dramatically shift the way businesses operate and make money.
The average commercial property owner spends about $2.15 per square foot for energy. Depending on the size and scope of the property the total expense for power can be enormous — most commercial property owners spend nearly $8k per quarter.
Based on the current metrics, however, businesses can slash their operational costs by as much as 75% just by using solar.
Are you a commercial property owner? Learn more about solar for strip malls and commercial properties.
Does My Business Need to Go Solar?
Your business would likely do well with solar, especially if you’ve got the financial backing to support setup and installation. While many assume solar energy is popular simply because of its positive effects on the environment, it turns out that sun-centered power is also a money-saver both in the short and long run.
For companies wishing to make the most of the opportunity before the government phases out tax incentives (they get lower each year! Don’t miss out! Read more about the Solar Investment Tax Credit scheduled expiration dates), professional assistance is a must. On the bright side (pun intended), Coastal Solar is always ready to provide an honest, hassle-free quote to any business.