ROI of Commercial Solar Panels for Business Owners
When it comes to large commercial investments, maximizing the Return on Investment (ROI) is what it’s all about. In the context of green energy technologies, it’s now common to see more and more businesses, both large and small, opt for commercial solar panel installation.
With global giants like Google and Walmart now powering up their offices with these devices, a common question to ask is, what kind of ROI does this green technology enjoy?
Our blog this week dives into the heart of this topic, showing that when it comes to solar technology, ROI is proven to soar through the roof.
How is ROI enhanced?
Commercial solar panels slash energy costs
Given that this technology meets the energy needs of a building by generating electricity through solar power, offices and commercial properties will find that electricity bills are no longer a dreaded expense.
When it comes to energy saving capabilities, many believe that in order for solar panels to be effective, the sun needs to be out at all times. This, however, is not true. Upon installation, you only revert to the grid for any electricity used during the night, which in most cases is minimal. Even in overcast conditions, solar panels are able to produce the required amount of electricity. This means that energy production and savings will not be sporadic, and can be maintained across the lifetime of these devices.
Further, with commercial solar panels in place, businesses insulate themselves from volatile price hikes and other resource shortages, which occur from time to time. Given the state of the global energy market, this trend is only likely to increase in the future, making solar panels a sound business decision.
Solar technology create an additional stream of income
Apart from the unparalleled energy savings businesses can enjoy, commercial solar panels also represent a unique opportunity for businesses to make more money. In this regard, Feed-in-tariffs (FIT) enhance the ROI for business owners that opt for solar technology. This is a scheme where governments or central authorities pay owners of solar panels when they feed their surplus energy back into the grid.
In countries like the United Kingdom, these schemes allow businesses to generate a passive income for around 20 years. Bonus? This money is also tax-free. If you’re curious about how you can benefit from such tariff measures, contact your local government about the arrangements available to your business.
This way, it’s easy to enhance ROI by making back the money spent on the entire system, without even lifting a finger.
Savings on installation and maintenance costs
As green technology grows more advanced, the purchase, installation, and maintenance costs for commercial solar panels are only plummeting. More than just technological advances, the rate of return on these devices are also increasing. This means that businesses can make back their cost and earn profit quicker than ever, especially with the aid of the tariff schemes, as mentioned above.
In addition to this, there are numerous solar subsidies and grants for business owners keen to make this switch. These arrangements make the purchase and installation of solar panels a much more affordable exercise. These systems are also not costly to maintain and have a lifetime of around 30 years. Thus, for commercial properties, this means that savings running into thousands of dollars is possible over the course of a few decades.
For businesses keen on adopting commercial solar panels, the time is now or never. Given both how developed solar technology has become as well as the extremely favorable market conditions, going green has never been as rewarding as it is at present.
Therefore, when the talk finally boils down to ROI, as our blog this week proves, there’s nothing up for debate. Solar panel installation is undoubtedly one of the best business decisions one can make for greater savings and more conscious consumption.