Commercial solar is becoming increasingly popular as more and more businesses go off the grid. Currently, there are millions of businesses around the world being powered by commercial solar. It has evidently become the trend at this time when people around the world are embracing renewable sources of energy. One of the things that have contributed to the widespread adoption of commercial solar is the reduced cost of solar materials. Another factor that has encouraged more businesses to invest in commercial solar is the 26% solar investment tax credit available to businesses and homeowners. Solar energy experts predict that commercial solar power could be the world’s largest source of electricity.
With the cost of electricity increasing each year, homes and businesses can greatly benefit from solar energy.
What are the key benefits of commercial solar?
- Cost savings
Embracing commercial solar is the best way to save thousands of dollars on energy expenses. Energy from the grid has become very expensive for most businesses and using commercial solar energy can reduce or eliminate the business’s electricity bill. Government incentives along with the reduced prices of commercial solar equipment make investing in commercial solar a sound financial decision.
- Generate income
There’s a growing customer base looking for a reliable renewable source of energy. As a commercial solar energy vendor, you can generate solar income by catering to businesses looking for alternative sources of energy. You can also sell surplus power to the grid.
- Reduce carbon footprint
Being a renewable source of energy, commercial solar helps to reduce the greenhouse effect, which is causing tremendous climate change. Solar energy reduces the demand for fossil fuels which translates to a reduced carbon footprint. At this time when the world is trying to curb climate change, it makes sense to embrace commercial solar energy and save the environment.
- Energy security
With the current energy crisis caused by localized shortages and market manipulation, energy security is not guaranteed. There is a possibility of energy usage regulation in the future. Commercial solar energy is the best backup solution.
How much does commercial solar cost?
The cost of a commercial solar panel system is measured in dollars per watt. On average, each watt costs $2.87 before incentives are factored in. A 25 kW commercial solar PV system costs anywhere from $43,750 to $56,350 while a 50 kW commercial solar PV system costs between $87,500 to $112,700. A 250 kW commercial solar PV system can cost up to $563, 500. As you can see, commercial solar is a significant investment, but the benefits you’ll get from investing in commercial solar are worth it.
In terms of the amount of energy generated by a commercial solar system, a 100 kW is expected to generate 150,000kWh of energy each year (on average). A 500kW commercial solar system can generate around 800, 000 kWh each year. However, the amount of energy generated may vary depending on the number of sun hours per day and the direction the solar panels are facing.
Whether you’re looking to cut down your energy expenses, reduce carbon footprint for the sake of our environment, or secure your future energy supply, commercial solar is a sound investment with incredible returns. If you are planning on investing in commercial solar, it’s a good idea to work with a company that provides dependable installation. There are many commercial solar installation companies to choose from, so you’ll need to do thorough vetting before hiring any company. Also, keep in mind that the quality of the components of a commercial solar system will determine the success of your project. Be sure to buy all the components from a reputable company.