Commercial Solar Panels
Guide to Commercial Solar Panels: Why it's Worth the Investment
Commercial solar panels are a renewable energy source that captures sunlight and converts it into energy. It can do this even in places like here in Pittsburgh, where we get our share of rainy and snowy days.
We consume 410 quintillion Joules of energy annually. The sun transmits 430 quintillion Joules of energy to the earth’s surface every hour!
Harnessing that sunlight to convert it into renewable energy reduces our dependence on fossil fuels, a non-renewable source of energy. But that is just one of the benefits of solar panel technology.
Why Your Business Should Install Solar Power
Solar energy production exceeded U.S. energy consumption in 2019 for the first time in over 60 years. That put us one step closer to becoming energy independent.
For every panel that companies have a professional install on their commercial building, operational costs go down, and we create a surplus of energy that drives down electricity prices. That’s a win-win for businesses and consumers alike.
Other reasons to install commercial solar panels include:
8 Benefits of Investing in a
Commercial Solar Panel System
Installing solar panels has pretty significant benefits that are not only good for the environment. There are also monetary gains above renewable energy rebate programs offered by municipalities.
These benefits include:
See a return in your investment in less than ten years
Most commercial solar panels customers will see a return in seven to eight years. Although, several solar panel providers can help companies recoup their initial investment in closer to five years.
The fact that solar panel prices continue to decrease is how companies accelerate their return more quickly. With affordable payment plans, many businesses never realize the costs until the utilities begin to pay them for their energy generation.
Increases real estate value
If a company owns the building, commercial solar panels increase the property value whether they plan to sell someday or not. It increases the total asset value, so if the business wants to expand and needs additional capital, they can borrow against the increased value of the real estate.
If the business doesn’t own the building, the company that does will realize the gains from increased property value while the organization renting the space benefits from the lower energy costs.
Go-green initiative wins over more customers
Go-green initiatives are the priority of environmentally conscious consumers as much as businesses with the same climate change concerns. Companies that commit to sustainability win more customers than those that don’t. Approximately 77% of consumers are more motivated to buy from businesses with go-green initiatives.
Boosts cash flow and profits
Energy companies offer credits for using a renewable energy source. Solar Renewable Energy Credits (SRECs) are available for businesses that invest in commercial solar panel installations.
These utility companies are required to buy SRECs and reward their commercial customers. These credits add to a company’s cash flow and profits.
Improves employee satisfaction
Like consumers, employees respond favorably to companies that participate in sustainability efforts. They prefer to work for businesses with a positive impact on the world. Some of the biggest brands are well-known for their sustainability efforts, including:
Includes system monitoring
Commercial solar panel systems come with tools that allow companies to check their commercial solar power generation and usage. Since they can monitor this, they can receive immediate assistance if something is wrong. They can also calculate expected savings, rebates, and rewards.
Reduces your business’s energy bills
Every business runs on electricity. When a company installs solar panels, its energy costs go down along with its monthly bill.
The amount of savings depends on the size of the solar power system and how much energy the company uses. The average small to medium-sized business sees a 75% reduction in its bill.
Offers tax deductions
Companies that invest in commercial solar panel systems save on taxes. They do this by writing off equipment depreciation. The 2018 tax changes also enable these organizations to claim this depreciation from the taxable income within the first year.
These businesses also are eligible for a federal investment tax credit (ITC). The ITC allows companies to claim up to 30% of the system’s total cost, which includes installation, materials, and labor. These credits are a dollar-to-dollar reduction of the taxable income.
Where to Find Commercial Solar Panels in Greater Pittsburgh
At Raycycle, our tailor-made solar energy solutions for our commercial customers help businesses become energy independent.
Commercial solar panels are a cost-effective way to generate power for your facility. Harness solar energy, save money, and assist in the preservation of the earth.
For more information on how Raycycle can help your business reduce operational costs with solar power, contact us today to speak to one of our friendly professionals!
When a company installs solar panels, its energy costs go down along with its monthly bill.
FAQ About Commercial Solar Panel Systems
Yes. When a company invests in commercial solar panels, they see a positive return on investment (ROI). The cost of solar panels decreased by 90% in the last 35 years, making them even more cost-effective. Our commercial customers reduce or even eliminate their energy bills. These businesses reduce the operational costs of their facilities, giving them an edge over their competitors.
When our customers generate more energy than they can use, the utility companies buy back the excess power. These power companies store the surplus of energy for later use. It's a term known as "net metering."
There are four primary differences between commercial and residential solar power systems. They include:
Absolutely! Solar panels do not generate electricity from heat. They generate power from light. That means that even on an overcast, rainy, or snowy day, the commercial solar panels continue to make power. Of course, sunny days will produce much more power than overcast ones. Yet, you will still be generating a lot more electricity on cloudy days than you were before you had your commercial solar panels installed. You'll be paying a lot less too!
Yes. Sure, we have our share of overcast days, and the winters in Pittsburgh are no joke. The one thing to remember is that solar panels generate power from light, not heat. Even though we cannot see the sun, the sunlight still reaches the solar panels, even in our worst snowstorms.
Between 250 and 400 Watts of power. What affects the output depends on factors like orientation, sunlight hours, and shading. With a 30-panel system, a business can generate enough power each year to surpass its energy usage.