BENEFITS OF SOLAR PANELS FOR COMMERCIAL BUILDINGS

[Amjad Kazmi]

August 29, 2023 at 2:00 pm

As one of the top sources of renewable energy, solar panels are becoming an increasingly popular option for commercial buildings.

Going solar isn’t only an economically viable choice for many businesses with large overhead energy costs, but if you haven’t already, it’s also a great opportunity to go green as an organization.

So, what are the benefits of solar panels for commercial buildings? Let’s check them out.

COST SAVINGS
A primary benefit of installing solar panels on a commercial building is cost savings.

With a solar panel system, businesses can generate their own electricity and thus reduce (or even eliminate) their reliance on the electric grid. As a result, electricity bills cost less.

What’s more, relying on renewable energy sources is key to saving your business money because the cost of electricity from traditional sources continues to rise. Additionally, the average cost of solar panels should decrease in 2023 and onward.

Solar panels also require very little maintenance, which helps reduce costs at your company. Once technicians install your commercial solar panel system, the panels can last for decades and only require occasional cleaning to maintain their efficiency.

Businesses of all sizes are also eligible for a variety of solar tax incentives and rebates to further offset your total purchase and installation costs.

ENVIRONMENTAL WELL-BEING
This one might be obvious — it’s no surprise that solar panels benefit the environment.

Because solar panels generate electricity from the sun, a virtually endless supply of solar energy is available to harness. However, the amount of solar power your panels can produce depends on a number of factors, including these:

Your roof’s slope and orientation
The geographic location where you live
The efficiency of your panels
Regardless, using any amount of solar power to meet your energy consumption needs is a positive step.

Unlike traditional electricity sources, such as coal and natural gas, solar power doesn’t produce harmful emissions or pollutants. This means businesses using solar panels contribute to a cleaner environment by reducing their overall carbon footprint.

Furthermore, because solar panels decrease reliance on the grid, that reduces the need to build additional power plants. This hinders you from using fossil fuels and other nonrenewable energy sources. And in turn, using renewable energy reduces greenhouse gas emissions and other negative environmental impacts.

HIGHER PROPERTY VALUE
Another benefit of solar panels for commercial buildings is the potential increase in a home property’s price.

As more and more businesses recognize the benefits of solar panels, the demand for buildings with preinstalled panels is increasing. This means buildings with solar panels are likely more attractive to buyers or renters. So lessors and/or building owners can justify listing those properties at higher prices.

Additionally, commercial buildings with solar panels are eligible for various rebates and incentives. Some of these include the solar investment tax credit (which offers a 30% tax credit), various tax exemptions depending on the state you’re in, the Rural Energy for America Program that offers grants and guaranteed loans to rural businesses and agricultural companies, net metering and more.

Commercial panels are also eligible for certain certifications, such as the Leadership in Energy and Environmental Design (LEED) or Energy Star. Those certifications further increase a property’s overall appeal and value.

Why? These certifications demonstrate environmentally friendly and energy-efficient capabilities — an important selling point for businesses that value sustainability.

RELIABILITY AND RESILIENCE
Solar panels also offer a level of reliability and resilience that traditional electricity sources simply can’t match.

With panels, businesses gain energy independence by generating their own electricity. This is particularly important during power outages or other emergencies when the grid is down — you can’t rely on it for power.

And it’s especially helpful to have a whole house battery backup, such as a solar battery (like a Tesla Powerwall) or a generator, to store excess solar power. If the grid happens to go down, you can rely on that stored energy even if your panels are temporarily unable to produce power.

With that said, businesses can continue to operate and provide essential services even when the grid is down — especially if they have a solar panel system!