Thinking about solar energy for you business?
Do you know that a sudden increase in the cost of electricity can severely affect the cash flow management of your business?
Electricity is one of the most expensive overhead costs you will face as a business owner. Being dependent on the commercial power grid also exposes you to variations in electric rates.
Unexpected price increases cause confusion in your business, particularly in your cash flow management. Perhaps it’s time to lighten your load and consider how solar energy for business can meet your needs.
Solar panels are quickly becoming a popular alternative energy source in the United States. You’ve probably heard that the giant 500 companies like Intel and Walmart are transforming a large portion of their buildings to solar energy.
You may not think that’s cost-effective for a small or medium-sized business at first glance but think again. Solar panels have come down in price and now provide excellent benefits to businesses like yours.
Here is everything you need to know about solar energy for business.
How Do Solar Panels Generate Electricity?
Solar panels generate power through a process called the photovoltaic effect. If you take a close look at a solar panel, you’ll notice that it’s made of many small squares. Those squares are PV cells, photovoltaic cells, or solar cells.
The majority of solar panels available in the market are made of silicon solar cells. Each cell comprises a negative layer that comes with extra electrons. It also has a positive layer that enables the electrons to travel to the panel.
Sunlight hits the negative layer, and the electrons travel to the positive layer. This flow of electrons is what produces solar electricity.
Why Should Your Business Finally Go Solar?
The solar power industry has significantly matured over the past few years. Solar technology is an affordable and dependable energy option.
There are many benefits of commercial solar installation including state cash incentives. Within a short time, you will get an excellent financial return on your investment.
Solar panels can also be used for business tax credits. Once solar panels are completely installed, you’ll receive a tax break. Take advantage of the federal solar tax credit to save money.
The solar tax credit extension is only available through 2022. Now is the time to install a system that will reduce your energy bills for many years to come.
Benefits of Solar Power for Businesses
Deciding to go solar is not something you should do on a whim. Evaluate your energy supply situation and how to reduce business emissions.
Weigh the pros and cons like any other business investment. Remember that solar energy will take time to give you a good return since it’s a long-term investment.
If solar power benefits your business, you can install the system. Below are some of the main benefits:
Sustainability and Longevity
Most people don’t realize that electrical power is bought based on demand and supply. So, it is a commodity.
Using electricity from the power grid means subjecting you to current user rates. Your business power consumption is not protected from extra costs in the future.
Converting to solar energy is an excellent investment for the future. You will also enjoy lower electrical consumption costs in the long run.
Solar Panels Help Cut Overhead Cost
Every business owner tries hard to reduce overhead costs. They include expenses outside of operational materials and wages. Business management involves paying for insurance, utility, supplies, and property maintenance.
Switching to commercial solar power is a huge step. Your business will benefit from reducing or eliminating your electric energy costs.
Solar power will reduce your power consumption bill by a big margin. You’ll be in control of lowering electrical overheads as you wish.
Green Reputation
Going green with solar power will give you a solid reputation among consumers. But it’s not just about earning a positive response.
One of the main benefits of going solar is reducing pollution. Solar provides pure and clean energy.
It reduces the emission of greenhouse gases and our dependence on fossil fuels. Businesses that invest in cleaner surroundings are seen as globally conscious and eco-friendly.
Cost of Solar Energy for Businesses
Solar panel prices have significantly dropped over the years. Take advantage of the flexible options offered by solar energy system providers. It helps to reduce the amount of money spent upfront.
You can benefit from solar leases and solar loans. These options make solar power a flexible investment for almost every business.
The costs of solar power systems vary depending on the business’s energy demand. A 30-100 kW solar system is ideal for small or medium-sized. The cost of buying and installation is around $100,000 as of 2021.
Small business owners will always make money on their systems. This is after federal solar investment tax credit deductions and cash rebates.
Installation cost can also be influenced by the attributes and quality of the system. It’s good to get a commercial solar energy quote from a solar panel vendor to know the total costs. Make sure you also ask about installation services.
Do I Need a Solar Battery?
Pairing solar batteries with solar panels has become popular. But this does not mean that you should get one.
Most business owners should not worry about buying solar batteries. They are a luxury more than a necessity as they cost $10,000 or more on top of your installation costs.
There are specific cases where solar batteries come in handy. For example, businesses located where there is an unreliable utility grid. Or if there are frequent power outages.
Solar batteries, in such cases, would be a great backup. They are also worthwhile if your state provides big incentives for energy storage.
Choose the Best Solar Energy for Business Service
Solar energy for business is becoming more accessible. The marketplace is full of companies that claim to be the best installers.
When you decide to invest in renewable energy, you need to choose the right people for the job. So, it’s best to compare multiple companies for you to make an informed decision.
Here at Opal Energy Group, we are experienced in the alternative energy industry. Our number one priority is to ensure our clients’ happiness and success. We can install and service every type of commercial application.
Call us today to learn more about our services.