Commercial real estate businesses are profoundly affected by the ever-rising utility bills and the need to remain competitive in the marketplace. And solar energy offers a perfect opportunity to securing long-term certainty as far as electric rates are concerned while promoting the reduction in environmental pollution. Also, among other things, solar guarantees return on investment. This makes it a must-try investment option for commercial property owners. However, before you jump from traditional electricity to Commercial Solar Power, you should understand the following basics:
The dynamics of solar energy
Solar photovoltaic (PV), a typical option for commercial settings, allows commercial businesses to generate safe and clean electricity from the sun at a very predictable cost that is cheaper than conventional electricity. The solar system utilizes solar panels to consolidate sun rays and convert them into AC electricity .The solar power is piped into the grid and them to the commercial connection for consumption.
Solar power: What are the available Incentives?
The federal state offers several incentives to commercial owners. They include:
- A Federal 30 percent Investment Tax Credit
- A five-year MACRS depreciation
- Varying state rebates
- REC revenues, which are available in certain areas
Why commercial property owners should go solar
It is no secret anymore: solar power can benefit your businesses, organization, and commercial entities in many ways. It is no secret that a good number of commercials across the US are taking advantage of all that a solar PV system has to offer. Here are some strong points to help you determine if a solar system could be of benefit to you.
- Cuts operating cost
The rising cost of electricity (which solar power cuts significantly), is should be one of the main reasons you should migrate to the solar world today. The electricity produced by a solar array offsets your electrical consumption, significantly reducing/ eliminating your utility bills so you can invest your cash elsewhere.
- Good return on investment
Any smart investor will tell you that a business with large returns plus a short payback period is key to profitability. Typically, the payback period of a solar array ranges between three to six years, depending on the size of the system and financing solution used. After the payback period, all financial benefits and savings contribute directly to the return on investment.
- Environmental leadership
Most consumers are seeking renewable energy to save the environment. Business owners and tenants are likely to consider a commercial property owner’s environmental policy and sustainability before doing business with them. Thus, going solar help reaffirms your commitment to sustainability and the appreciation of renewable energy technology.
With solar, commercial property owners can enjoy tax benefits, energy cost stability, improved property values, and limited maintenance. Commercial owners can utilize flexible financing options and incentives by the federal state in their road to embracing this cost-cutting means of lighting and powering their properties. All you need is to contract a reliable commercial solar solution provider that values customer relations, believes in good workmanship, and is there to help you through the whole process.