S olar power has become a sustainable and cost-effective energy choice for company owners, thanks to growing utility bills and a significant reduction in the cost of purchasing and installing solar systems.
Although many small and medium-sized businesses are still figuring out how solar energy may benefit them, more than a hundred Fortune 500 corporations have already seen considerable benefits from solar energy.
Solar power systems may seem to be a large upfront expenditure, but they may give several benefits in the long term. This is why understanding how investing in solar power can be cheaper for businesses is more important now than ever before.
Solar energy may save a lot of money on energy. According to experts market statistics, adopting solar may lower total energy expenses by 75 percent for the typical business property owner in the United States. According to the survey, before embracing solar, the typical business property owner spent $1,950 in monthly power expenses. After installing solar energy equipment, they only had to pay roughly $500.
Through a Power Purchase Agreement, businesses may reap the advantages of solar without having to invest (PPA). The solar supplier promises to provide the consumer with electricity at a certain rate for a set period of time, such as 20 years. REC has utilized the PPA technique to assist non-profit organizations such as churches lock in long-term energy savings. Lease and cash purchase plans are also available from REC and other providers.
Companies may recoup their solar panel purchase and installation expenditures in three to seven years. Long warranties are included with solar systems. Colburn points out that "most module makers give a 25-year performance warranty.
Companies can project an ecologically responsible image and promote green business objectives by eliminating exhaustible forms of energy. This not only boosts their image in front of investors but also lets businesses that support the planet lead by example.
The cost of solar panels has plummeted by more than 80%. Because most solar energy system suppliers provide flexible alternatives like solar loans, solar leases, and PPAs, most small companies don't have to pay anything upfront. Almost everyone can go solar thanks to these flexible funding alternatives.
The cost of solar energy systems for companies is determined by the company's energy usage. As a consequence, the cost of one procedure may differ dramatically from another. Most small to medium-sized companies may benefit from a 30kW solar power installation. Solar setup costs are often reduced by roughly 45 percent thanks to federal ITCs, state tax credits, and cash rebates. When it comes to output, bigger solar systems have a lower cost per watt of electricity.
The cost of solar panel installation is determined by a number of variables. Your company's energy requirements are the most crucial. The quality and features of the system installed will also impact the price. Solar panels aren't all made equal
Other elements that influence the final cost of solar installation include the cost of solar permits and labor. Solar energy panels must be linked to the grid for a cost, and installation requires a large amount of physical effort. Another consideration is the roof on which you wish to put solar panels. Solar panel installation may be simple and uncomplicated on certain rooftops, but it can be problematic on others with a steep roof pitch.
Improved storage, according to Colburn, is the next natural step for solar. Due to the intermittent nature of energy sources like solar and wind, storage may assist make energy accessible during times of low production and minimize the usage of conventional energy to fill in the gaps. With Panasonic, Tesla, LG Chem, and others vying for storage solutions, the battle is becoming fiercer.
According to experts, companies will be able to tap into solar power as required to avoid peak consumption rates for conventional energy and better regulate their energy expenditure if they have enough storage. For some sorts of enterprises with a spiky energy profile, solar energy presents a fantastic alternative.
Aside from increasing storage, another intriguing development is Solar’s enhanced curb appeal. Business owners have thought long and hard about how investing in solar power can be cheaper for businesses and now it’s time you do the same!
While this approach is primarily aimed at the retail sector, it may have implications for commercial applications in the future. In combination with its Powerwall 2 storage battery, Tesla has announced the debut of a variety of stunning roof tile alternatives. Battery storage is a vital factor to consider when learning how investing in solar power can be cheaper for businesses.
