Commercial solar power can reduce operating costs while also providing an effective insulation from fluctuating power market prices. Because of the high demand for electricity, utility rates tend to rise and fall in unpredictable cycles. Historically, electricity rates have increased by around 5.5% per year. This may change in the future, as volatile conditions in the Middle East affect electricity prices around the world.
Commercial solar projects are often large, requiring installation by specialized companies. During installation, it is important to monitor how much electricity is produced and used. This will allow you to identify periods of low bills. Ideally, a single person will be responsible for monitoring and measuring the electricity consumption. Alternatively, a small group of workers could perform this function.
Commercial solar power is a sustainable investment. It will not only benefit your business, but also help promote the environment. You can even receive a feed-in-tariff for the electricity you generate. This credit will appear on your electricity bill. Commercial solar power is a great way to reduce your energy bills while meeting your present goals and future needs.
Commercial solar power allows your business to produce clean electricity. It can be as much as 50% cheaper than utility rates, and your energy bill will remain lower for years to come. In addition to reducing your energy costs, you will also benefit from the fact that solar power is available during daylight hours. In addition, the cost of commercial solar panels has decreased more than 50% since 2015. It will not cost a business much to get solar installations. In fact, many small businesses have found it to be an inexpensive option that can help them save money on energy bills.
Many states have a net metering policy that allows businesses to bank excess electricity generated from their solar panels. This allows them to receive a credit at retail prices for the excess electricity they generate. In addition, some states offer property tax exemption for the value of renewable energy sources. This means that your building’s value may increase if you install solar power at your business. In addition to saving on energy costs, installing solar power can also make you more environmentally conscious.
Installing solar panels on a commercial property is a low-maintenance investment. The panels are weatherproof and can withstand the elements, so they can last for years. They do not require much maintenance, and they provide a more reliable power system than utility electricity. Furthermore, solar systems also provide carbon offsets, which is a major selling point. This is a great investment for commercial property owners, and will increase the resale value of their property.
While solar energy is an excellent option for commercial buildings, many people are still skeptical about its cost effectiveness. However, if you consider the long-term financial savings and environmental benefits of using solar power, commercial solar power can be a great choice for your business. Using solar energy can help reduce energy costs and lower operating costs.
Commercial solar panels can also qualify for the federal investment tax credit. This tax credit is equal to 26% of the cost of a solar panel system, so a $50 solar panel installation would result in a $13,000 tax credit. Further, there are other incentives for solar installation, such as the Small Scale Technology Certificate and Solar Renewable Energy Credits.