Energy costs are one of the most expensive aspects of running a business. With commercial solar, businesses can reduce their operating expenses and save on electricity bills.
There are also many limited-time tax benefits to make going solar even more affordable. Read on to learn more about the benefits of commercial solar.
Cost-Effectiveness
Energy costs make up a significant part of most businesses’ operating expenses. By investing in a solar energy system, companies can lower their electricity bills and improve their bottom line.
In addition, commercial solar is eligible for a number of state and local incentives that can offset 45-80% of the cost of a system. Businesses can also deduct 85% of their solar asset value from their taxes, which further reduces upfront capital investment costs.
By generating their own energy, businesses can further reduce their dependence on utility power and protect themselves from future electricity price increases. In the long run, these savings add up to significant financial benefits. By reducing their utility bills, businesses can typically pay back their initial investment within three to five years. This leaves the remaining energy savings as pure profit. This makes a commercial solar system an attractive option for many business owners. However, it is important to perform a feasibility analysis before beginning any solar project.
Environmental Benefits
Solar energy is a renewable resource that reduces businesses’ dependence on fossil fuels, which are responsible for climate change. It also helps them meet their sustainability goals and achieve a good reputation among consumers and employees.
The electricity generated by commercial solar systems is free from fossil fuels, which means a significant savings on power bills. It also reduces carbon emissions, which are the main cause of climate change. Furthermore, it can also protect companies from unexpected electricity price increases by reducing their reliance on the grid.
Another environmental benefit of commercial solar is that it does not require water to produce energy. This is important as droughts are becoming more and more prevalent in the world. Also, it is a great way to promote a company’s green credentials and stand out from competitors. Finally, it supports the local economy as contracts are often completed by workers in the local market. This can also help a business attract new customers.
Reliability
Commercial solar is a great option for business owners that are looking to save money and reduce their carbon footprint. However, like any other energy source, commercial solar isn’t without its drawbacks.
One of the biggest issues is finding a suitable location for your solar panel system. While the roof is the first place that comes to mind when thinking about installing solar panels, businesses often have other areas with excess sun exposure that can also work, such as a carport, parking lot, or open field.
Another issue is the maintenance required to keep your commercial solar panel system running at its peak efficiency. Regular cleaning is necessary to remove any dirt, debris, or pollen that may build up on your panels and cause them to produce less energy than they could be.
Maintenance
One of the hidden costs associated with commercial solar system is maintenance. The solar panels require cleaning and inspection on a regular basis to ensure their efficiency. Additionally, there may be unexpected repairs and replacements that can increase the overall cost of the project.
Thankfully, solar panel maintenance is relatively simple. Panels are washed off naturally by rain or snow, and their slanting design on roofs means that leaves, bird droppings, and grime eventually fall off.
It is recommended to have your solar panels cleaned by professionals at least twice a year. However, the amount of time they will need to be cleaned depends on your geographic location. Cleaning is especially important in the fall and spring because of dust accumulation from winter and falling leaves and bird droppings. In addition to cleaning, it is also a good idea to have your system inspected on a yearly basis. This can be done through system monitoring or by checking your electricity bills.