Commercial solar provides a great return on investment. According to the U.S. Energy Information Administration (EIA), in , the average commercial building spent $650.04 on electricity (likely on par with most small-to-mid-sized-businesses). Over a year, this equates to $7,800 in operating expenses. Over 20 years, your business will spend about $156,010 on energy costs.
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Based on the same EIA dataset, the average commercial property consumed about 69,540 kWh of electricity in . Let&#;s assume your business installs a solar panel system that offsets 90% of this electricity consumption. Let&#;s also assume that your system&#;s production ratio (the ratio of its estimated energy output over time, in kWh, relative to its actual size, in W) is 1.4 (it typically ranges between 1.1 and 1.7 in the U.S., depending on your location).
How big of a system does your business need? Plugging in our numbers from above, we get:
System size (in W) = Annual consumption (569,540 kWh) * system offset (0.9) / production ratio (1.4)
This gives us a system size of 44,704 W or about 45 kW. According to our table above, a 45 kW system costs about $39,150, including the ITC and five-year depreciation with MACRS.
Over 20 years, your business will save about $101,259 in electricity costs with solar:
20-year savings = 20-year electricity costs ($156,010) * system offset (0.9) - upfront solar energy system cost including incentives ($39,150)
Beyond the direct financial benefits, installing solar panels can also help your business protect itself against electricity price volatility and inflation. In many states, the price of electricity can fluctuate significantly due to demand, creating a headache for business owners who closely manage their cash flow. With solar, your business can lock in electricity prices and reduce reliance on the unpredictable electricity market, making it easier to budget and plan for the future.
Solar energy is a great way to power your business, whether it's a small home office or a big enterprise. Solar panels provide electricity and more importantly, they reduce the carbon footprint of your company. This means less harmful emissions into the atmosphere, which will help you save money in air conditioning bills and also lessen the cost of employee health insurance.
Solar panels are more affordable than ever before
You can install solar panels on your roof, or even get them as part of a lease agreement with a local utility company. This means that you won't have to worry about paying for electricity bills anymore&#;you'll just be paying for the amount of electricity that your system produces each year.
Plus, the environmental impact is huge: less pollution means better air quality and fewer greenhouse gases being released into our atmosphere! Plus, it saves money over time because there's no need to pay extra fees or taxes when you're generating all this clean energy instead of buying it from fossil fuel-based power plants (which cost way more).
Fewer Power Outages
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Solar panels are not affected by power outages. This means that you won&#;t have to worry about your business being shut down because of a blackout or other issue with the grid.
Solar panels can provide power during a power outage, which is great news for businesses with large amounts of equipment that need access to electricity at all times.
Support of the Local Economy
The demand for solar power contributes to the opening of jobs in solar companies supporting the local economy.
Solar energy offers tax credits and rebates for businesses
As a business owner, you know how much money you spend on utilities. It can be frustrating to not see the savings from your solar panels, and that&#;s where tax credits and rebates come in.
It is accurate to say that policies are already in place to encourage grid-connected solar roof-top power panels. Additionally, units up to 3 KW in capacity are eligible for a 40% benchmark capital cost subsidy and bigger units up to 10 KW are eligible for a 20% benchmark capital cost discount.
Solar panels are not only good for the environment but make good business sense
Solar panels are not only good for the environment, but they also make good business sense. The cost of solar energy has fallen dramatically in recent years and this can be attributed to advances in technology. In fact, it's now possible to install solar panels on your home or business that are cheaper than conventional electricity sources like coal or natural gas plants.
These days, many businesses have turned away from traditional sources of energy because they're seen as too expensive and inconvenient. With solar power available at a fraction of what you'd pay for traditional fuels like oil or coal, there's no reason why your company shouldn't take advantage of this opportunity!
Solar energy can offer a lot of benefits to your business so go get a commercial solar power plant installed on your unused roof and make some extra money.
For the best panels, you can contact Frittsolar a pioneer in solar industry. Frittsolar sources the best solar panels from world&#;s most trusted solar panel manufacturers. Frittsolar provides solar panel for electricity to get you on your way to a greener future, and take care of your solar requirement right from procuring, engineering to construction and maintenance.
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