Are solar panels right for your business?
When a company opens its doors for business, they must be prepared to meet many different challenges including finding innovative ways to keep down the cost of it’s operating expenses.
While some of the expenses can be classed as fixed, others are group as variable. Therefore, it is essential that the business owner and their employees keep their eye on the company’s expenses so that they can make a substantial profit.
Because the fixed expenses are constant and cannot be changed, opportunity for reducing costs is in the variable costs. One of the most common expenses that business owners who operate both small and large facilities involves the use of their utilities.
In some cases, people may reduce energy usage by turning off the lights when they leave the room, there are parts of the utility bill that cannot be reduced so easily. Therefore, the company may need to follow up with a more innovative solution like installing solar panels in their commercial buildings. So, for those of you who want to know more about commercial solar panels as it relates to it’s actual worth, you should review the information provided below.
Are solar panels worth it?
The responses to this question can vary as it relates to the organization and their operations. Therefore, people will need to keep their ear to the ground to find out how the industry is doing as a whole and where it is going in the future.
To that end, it is important that business owners know that in recent years, the trend for installing solar panels in commercials is quickly on the rise.
Due to the demand and the changes being made to make them more efficient, the prices of the materials and installations are falling, while the participation since 2010 has grown dramatically.
Here’s a list of benefits that a company can experience when they enter into the ranks early on.
- Lower electricity costs are locked in. So, businesses will have a more accurate estimation of the electricity costs when they are making other financial decisions for the business.
- Business owners may or may not need any upfront capital for their purchases and their installations.
- Installations of Commercial Solar Panels can assist a company with achieving their sustainability goals. Further, because prices are dropping quickly, the business owner can install solar panels at rate that is much easier to afford.
Case Studies on Cost Savings and Commercial Solar Panels
Fortunately, for those of you who want to know more about what is going on in the commercial solar panel industry as it relates to various kinds of case studies, it is important that you know that there numerous case studies online that have been published.
The types of case study that an individual is looking for is normally based on individual preferences.
Therefore, everyone should know in advance that there are commercial solar panel case studies that have been reported on some of the largest businesses in the nation.
Some of the more notable and well known organizations include Walmart, Miller Coors, Walgreens and Ebay. For instance, the case studies for Walmart includes invaluable information on 100 different locations across the U.S. Based on the information that they have published, solar arrays have reduced their energy needs by as much 5 to 30% in certain areas.
This reduction is due to three quarters of the stores in California being run by solar project installations. These projects have also been successful because Walmart has being partnering with SolarCity.
One downside of small commercial solar
The major barrier that has prevented the growth of small-scale commercial solar panels is to do with the cost of financing due to lack of standardized documentation for screening small-scale commercial solar projects thus increasing transaction costs for developing such projects.
However, several stakeholders in the solar industry are helping to standardize the screening process for solar commercial projects so that financiers will be able to select good projects for financing without spending a lot on transaction costs.
Transaction costs are usually complex for small commercial solar and expensive to execute just like large commercial solar. However, small commercial solar compared to large commercial projects are not as financially viable to absorb these extra costs and result in a good return on investment (ROI).
Therefore, this standardization is necessary and is already been set by stakeholders in the industry to overcome this barrier. You can learn more here to see how various stakeholders in the industry are tackling this problem.
A new way of going solar: Online Solar Marketplace
You can explore an online solar marketplace that is working towards making it easier for small and medium businesses to going solar through comparison of different solar energy plans from multiple pre-screened solar energy providers.
All that is needed is to register with this online solar marketplace to start using this online solar marketplace. You will also be provided with various financing options, including solar power purchase agreements (PPA) that require no upfront financing hence, making it more affordable for small to medium size businesses to go solar.
This marketplace also provides you with a ROI to help you decide whether solar is right for your business based on the savings that can be achieved through your business based on your solar energy profile. Click Here to Get Started or Get Your Quote Today!!