Why Businesses Should Go Solar
How Commercial Rooftop Solar Works
As energy prices have continued to rise in recent years, more companies have been seeking ways to lower their power bills at home and places of business. When many people think of solar power, they think of residential rooftop solar. However, commercial rooftop solar can be a viable option for lowering energy bills. Here are some basic things to know about commercial rooftop solar.
Will You Have to Go Off-Grid?
When you install off-grid solar for a commercial rooftop, it is unlikely that you will be able to go off-grid. Most commercial rooftop solar installations use solar to subsidize their grid power, thus significantly lowering their energy bills.
Solar systems for commercial buildings are not meant to replace the grid. Instead, they are meant to ensure that a majority of the power used comes from renewable sources. As a result, they ensure that users can take advantage of any solar incentives in their state.
How Billing Tenants in a Commercial installation Works
When you install solar on your commercial building, you will need to distribute it to the tenants. It is surprisingly easy to do so. You only need an electric meter, which will record how much solar energy the tenants are using. They can then be billed accordingly.
If net metering is offered in your state, you can take advantage of it as an incentive to get tenants. With net metering, the grid essentially works as a store for excess solar energy. Since it is unlikely you will use all solar energy produced every day, net metering will send excess energy to the grid, and in return, you will receive credits. The net result is lower energy bills.
By How Much is the Electricity Bill Lowered?
For a commercial building, installing solar power can lead to huge financial returns. The data shows that your bill could be lowered by up to 75% when you start using solar energy. Besides that, you will be locked into a low electricity rate for the life of the panels, which is usually 25 years. There are numerous tools online that can help you determine exactly how much you will save.
What Determines the ROI from Commercial Rooftop Solar?
The total ROI from commercial rooftop solar is dependent on several factors. These are:
The solar technology you use
The solar incentives available to you
The total energy output of your solar system
Solar panels are low maintenance and often come with a warranty of 20 years or more. Most commercial rooftops have a lot of open rooftop space where solar panels can be easily installed. Most experts estimate that commercial rooftop solar installations deliver an ROI within 5 years. To determine the ROI for your particular rooftop, it is important to speak to experts, who will give a more exact figure.
If you have a large open rooftop that is in good condition, it is the ideal location for a commercial rooftop solar installation. Before installing solar on a building, you may wonder how it will affect its value. The good news is that it is going to drive up the value of the property due to the expected ROI for any buyers due to the lower cost of power.