5 Reasons Why Your Business Needs All In One Solar Power System？

Commercial solar provides a great return on investment. According to the U.S. Energy Information Administration (EIA), in 2021, 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 2021. 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.

Businesses in the modern world are still skeptical about going solar. This is mostly because they are not economically viable in comparison to the present methods of generating electricity. However, a company must choose its energy source intelligently to make a worthwhile investment. This will help not just the environment, but also the prosperity of your company. Here are some of the most compelling reasons why your company should go solar.

1.     Solar energy can provide a high return on investment

What could be better for a business than a higher return on your investment? The cost of installing a solar panel is virtually the same as paying for 40 years of power. After adopting solar, you will almost certainly get your money back.

2.     Going solar can provide you with a competitive advantage

Because most contemporary companies still rely on fossil fuels for electricity, using solar energy can provide significant benefits. You may get a competitive edge by prioritizing the environment and the health of people. This will not only raise the worth of your firm, but it will also increase your profit.

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3.     You can establish a solid reputation in society

Changing to solar energy is associated with going green. If you’re looking to build your company’s brand, solar might be a terrific option. This is because going green is an excellent branding approach. Through improved brand image and reputation, you can ensure that customers are pleased to make purchases from your company. As a result, you may increase the number of consumers, which will boost your profit.

4. You can protect the environment also by reducing your carbon footprint

Solar energy, as opposed to fossil energy, may significantly contribute to the global rate of carbon emissions with the energy your company produces. However, by switching your business to solar, you may minimize your usage of any fuels that contribute to greenhouse gas emissions and reduce your carbon footprint.

5.     Solar energy can help reduce company expenses

If you want to make a difference in the world as a business, you must think about using solar energy as your source of energy. You will begin doing so on the first day of going solar. The use of fossil fuels significantly pollutes the air around you. Human health concerns have grown because of this. However, by installing solar on your company, you will significantly contribute to the solution to this problem.

Installing solar panels is a significant step in lowering your company’s total operating costs. Saving money is crucial for all company owners, and if you can assure you will spend less on powering the equipment that your company relies on, that’s even more ideal. If your company uses lighting, machinery, and server rooms, solar energy can help you minimize both your electricity use and associated costs.

Furthermore, because solar-powered equipment is maintenance-free and dependable, you will save money on maintenance costs.

Conclusion

The decision for businesses to transition to solar energy is a strategic move that holds immense potential. While concerns about the economic viability of solar energy have hindered its adoption, a closer look reveals a host of compelling reasons to make the switch. The financial benefits are significant, with the potential for a high return on investment and reduced operational costs.

Moreover, embracing solar energy provides a competitive edge by demonstrating a commitment to sustainability, enhancing brand reputation, and attracting environmentally-conscious customers. The environmental advantages cannot be overstated, as solar energy helps minimize carbon footprints and contributes to a healthier planet. By intelligently choosing solar energy as an energy source, businesses can simultaneously drive their prosperity, support the environment, and position themselves as responsible corporate citizens in a rapidly evolving world.

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