Everything You Need to Know About Commercial Solar Power
One of the biggest benefits of commercial solar power is that it improves customer engagement. The increasing trend among consumers to support eco-friendly and socially responsible companies means that a commercial solar array on a rooftop will demonstrate your concern for the environment. Additionally, solar energy systems are also good for the company’s reputation, which will help it attract more clients and business partners who are concerned about the environment. In addition to this, a solar energy system is beneficial for the business’s bottom line.
Electricity costs are increasing with each passing year. Commercial solar power will lower the energy costs for years to come. It will also generate jobs and keep energy dollars in the local economy. Moreover, using solar energy will attract customers to your business by portraying a “green” business image. Additionally, commercial solar power can be a great marketing tool for environmentally conscious customers. In addition, a solar panel will reduce the cost of installation. Further, many states offer incentives to businesses that install solar panels.
The size of the solar panels that you purchase should depend on the size of your business. Commercial solar power projects require large panels that require specialized installation companies. It is best to use 72-cell solar panels because they require less racking space, so you’ll save money on the installation costs. If you’re a business owner, it’s wise to hire a solar installer who is familiar with local regulations. Solar installers also know about tax incentives, subsidies, and credit programs. These companies may also have connections with better lenders, so you can get the financing you need.
Commercial solar systems are often connected to the local power grid. If they generate surplus electricity, they can be sold back to power suppliers. Commercial solar systems are larger than residential ones. Residential solar panels generally produce eight kilowatts of power, whereas larger commercial solar systems may be as much as 10 megawatts. So if you’re a business, consider commercial solar power for your company. You’ll be happy you did.
The next step in the process is permitting. The permit process will take from a few days to a few weeks, depending on the size and complexity of the system. Once your permit is approved, the solar installation team can begin the paperwork to get your rebates and incentives. Once your solar panel system is installed, your utility company and local building department will complete a final inspection. They’ll also check to make sure that the work was done properly and that the solar system is in compliance with local building codes.
If you’re looking for an incentive to invest in a commercial solar project, remember that you may be eligible for the Federal Investment Tax Credit (ITC) program. This credit can be as much as 26 percent of the cost of a qualifying project. The credit will decrease to 22 percent by 2023 and finally to zero percent by 2026. With the federal investment tax credit, businesses can take advantage of the benefits of commercial solar power without taking out a loan. Depending on your location, you may be able to claim this credit on your annual income tax returns.
Many states, local governments, and utilities offer incentives for installing commercial solar power systems. These systems may even offset your entire electricity bill. Some of these systems are grid-tied and allow you to export excess power to the grid when not in use. With net metering, you can even earn the full retail rate for the electricity you export. Additionally, by generating your own power, you will be able to mitigate the impact of future electricity price increases.
While solar energy is still a relatively new technology, many large companies are moving to it. This change is motivated by cost savings and the desire to be environmentally responsible. Companies see solar energy as a good business decision, not just for the environment, but for their public image as well. As of August 2018, over 7,000 MWdc of commercial solar energy installations have been installed in the U.S., generating 10.7 million MWh of electricity annually.
Eco Energy highlights how solar energy is cost-competitive with utility energy. Interested in learning more about commercial solar power? Get a free consultation today. We look forward to helping you achieve your renewable energy goals. Until then, please read on for some tips on commercial solar power. We will cover the advantages of commercial solar energy for your business.