Everything You Need to Know About Commercial Solar
As a business owner, facilities manager or architect, you may have considered going solar to improve your Triple Bottom Line and save electricity costs. Here’s an ultimate guide to installing solar for your business.
Commercial solar is a great way for businesses to save costs with clean energy, however, it goes beyond this. Onsite solar can send an incredibly powerful message about your company’s values and priorities to your employees, customers, shareholders and the local community; demonstrating a commitment to environmental sustainability, updated technology, and more.
Here we will identify the benefits of solar for your business, how to know if it’s a good fit, what the process looks like, incentives, financing and more.
Benefits of Commercial Solar
One of our favorite quotes comes from MSS President Mark Hagerty:
“I know of no other marketing expense, other than a solar array, that even if the marketing message fell flat, the campaign would still return a profit.”
Learn how to market your solar array.
Protect the Environment
By opting to harvest energy from the sun your business would consume less fossil fuel-fired electricity resulting in a reduction to your business’s carbon emissions. Emissions coming from coal and natural gas power plants are often the largest regional polluters, so any reduction in a building’s use of this electricity results in less regional air pollution; which ultimately is the air that your employees and their kids’ breathe.
Looking for more ways to be green? Here are some tips to reduce your carbon footprint.
Investing in onsite solar allows your business to be more profitable and flexible in the future. By supplementing your energy consumption with a solar array, you are improving your bottom line by offsetting the cost of electricity.
During its lifecycle, the solar array will provide a return on the investment. Most arrays in North America will return on their investment in under a quarter of the system's expected life. You may also experience a return on investment of 8% or more annually.
Understanding Your Business Electricity Consumption
Depending on the characteristics of your businesses electricity consumption one billing tariff with your electricity provider may be less expensive than another tariff. Here is how to be sure you are not overspending on your electricity in the first place!
Financial Benefits of Commercial Solar
In addition to marketing, protecting the environment and reducing costs, you can reap many financial benefits through your commercial solar array.
Return on Investment
Because solar is a cost offset (like an LED light project), its economics include a return on investment aside from all other value streams it includes. Depending on your site conditions and utility, businesses in Michigan have seen anywhere from 6-12% annual return on solar investments.
Like any fixed asset a business owns, solar adds value to the businesses portfolio especially their buildings/properties value. Whether you sell your building, business or the solar equipment there is value to the next user that must be recognized.
How To Finance Your Commercial Solar Array
Liquid capital is one of the most valuable assets a business has in its arsenal to continue operations, improve operations and make capital purchases. But in an economic landscape where most businesses work hard to avoid capital expenses, how does a business justify spending hard-earned capital on energy reduction or renewable energy projects?
Different types of commercial financing options:
How to Prepare for a Commercial Solar System Purchase
Businesses and residents alike may reap the benefits of decreased electricity costs, sustainability, and increased home or business value by installing solar. While solar can be added at any time, it is advantageous to go solar as part of a larger building upgrade or new construction.
Examples of Industries Going Solar
Solar can be great for a multitude of industries, here are some that the application has a special synergy with:
|Light Manufacturing||Agriculture||Healthcare||Small Businesses|
|Car Dealerships||Community Centers||Schools||Doctors Offices|
|Office Buildings||Veterinary Clinics||Marinas||Retailers|
How Do I Know If My Business is a Good Fit?
Why Michigan Solar Solutions?
Check out some of our completed projects to see why we are Michigan's choice solar provider!