When we say commercial solar, we are talking about everything from small businesses to large corporations to nonprofits that are diving into solar technology for lower operating costs and cleaner energy. Right now, solar is highly underused in commercial operations. In fact, less than 4% of commercial buildings are using solar panels.
There are many factors that you should consider when you are considering a solar installation for your business. We are sure that one of your main concerns is its return on investment, but it is worth remembering that there is more to it than mere short-term costs. Allow us to walk you through everything that you should know about commercial solar systems.
Commercial Solar Financial Benefits
- Lower operating costs due to reduced utility bills
- Less fluctuation in energy costs in the long run
- Higher property value
- Tax credits that bring down overall installation cost
- Improvement of the sustainability of the company
- Battery backup installations may prevent productivity loss during power outages
Options for Financing Commercial Solar Systems
The installation of commercial solar systems can be quite costly. Here are the most common options when it comes to financing this process:
In general, paying with cash brings down the overall cost. This will ensure a quicker return on investment. On top of that, you are going to own the equipment. Unfortunately, this is not always feasible for companies since it requires a big initial payout.
Loan or lease
The average solar loan or lease runs anywhere from five to twenty years. There will typically be an option to renew the contract or buy the equipment once the lease comes to an end. The main advantage of this setup is that you can avoid big upfront costs yet still experience big savings in terms of electricity costs.
Maintenance and Reliability
The good news is that solar panels do not require a lot of upkeep. In fact, the protective glass is typically enough to withstand the elements. They do not produce waste or noise either. You should still check the panels regularly to ensure that everything is working, but the overall maintenance of it is generally hassle-free.
The Right Fit
Solar Regeneration can help you check whether or not solar will work for your business. Among other things, this will involve looking at your electrical usage history, building location, and office setup. Get in touch with our team today and have your very own solar panel installed.